When Can You File Taxes?

How early can you file taxes?

It’s that time of year again! Tax season is almost upon us, and everyone is scrambling to get their paperwork in order.

But when can you actually file your taxes? The answer may surprise you.

For the 2023 tax season, you can file your taxes on January 20, 2023. But taxpayers who file online can start on their tax returns early!

How Can I Start Filing my Taxes Early?

The good news is that you can start filing your taxes on December 3, 2022, if you file your taxes online. You can prepare your tax return now and have it automatically submitted it as soon as the IRS begins accepting tax returns in 2023.

The sooner you file, the sooner you’ll get your refund. Here are a few benefits to filing your taxes early.

  1. First, if you’re expecting a refund, you’ll get it sooner.
  2. Second, if you owe money to the IRS, you’ll have more time to pay it off.
  3. And third, if you’re self-employed or have other complex tax issues, filing early will give you more time to gather all the necessary documentation.

The IRS is urging taxpayers to file their taxes as soon as possible, especially if they are expecting a refund. Whether you’re expecting a refund or not, filing your taxes early is a good idea.

How Long Does a Tax Refund Take to Get Back?

It can take anywhere from a few days to a few weeks to get your tax refund back from the IRS. The timeline depends on how you file your taxes and how accurate your return is.

If you e-file your taxes and there are no errors, you can expect to receive your refund within 10 days. If you mail in your return, it will take longer – about 6 to 8 weeks.

If your tax return is selected for an audit, it could take even longer to get a refund. The IRS will contact you if they need additional information or documents. Once they have everything they need, they’ll process your refund.

What Are the Penalties for Filing Taxes Late?

Your filing status and the amount of unpaid tax as of the original payment due date are taken into account for determining the Failure to File Penalty (not the extension due date).

Unpaid tax is the total amount of tax that must be reported on your return less amounts withheld, estimated tax payments, and permitted refundable credits. The Failure to File Penalty is determined as follows:

For each month or portion of a month that a tax return is late, there is a failure to file a penalty of 5% of the unpaid taxes. The fine will not be more than 25% of your delinquent taxes.

Can I Go to Jail for Not Filing Taxes?

As the tax deadline approaches, some people may be wondering if they can go to jail for not filing their taxes. The answer is generally no, but there are some exceptions.

If you don’t file your taxes and you owe the government money, you may be subject to penalties and interest charges.

In extreme cases, you could also be prosecuted for tax evasion, which is a felony charge that carries a prison sentence of up to five years.

However, most people who don’t file their taxes simply because they can’t afford to pay what they owe will not face criminal charges. The IRS is more likely to work with you to set up a payment plan than send you to jail.

If you’re worried about not being able to pay your taxes, the best thing to do is file your return anyway and explain your financial situation to the IRS.

How Do I File for a Tax Extension?

If you cannot file your taxes by the April 15 deadline, you can request a tax extension from the IRS. This will give you an additional six months to file your return. You can request a tax extension by filing Form 4868 with the IRS.

When requesting a tax extension, you should estimate your tax liability and pay any taxes that you owe. This will help to avoid penalties and interest charges.

If you do not pay your taxes owed, you may be subject to a late payment penalty of 5% per month on the unpaid balance.

If you cannot pay your taxes in full, you should still file your return and pay as much as possible. You can set up a payment plan with the IRS to make monthly payments on your outstanding balance.

How Can I File Taxes online?

The process is simple and easy to follow. All you need is a computer with an internet connection and you’re good to go.

Here’s a step-by-step guide on how to file taxes online in 2023:

  1. Gather all the necessary documents. This includes W-2 forms, 1099 forms (if you’re self-employed), 1098 forms (if you have student loans), and any other relevant tax documents.
  2. Create an account.
  3. Once you’ve created an account, you’ll be asked to provide some basic personal information like your name, address, Social Security number, and date of birth.
  4. Then you’ll be asked questions about your income, dependents, and deductions.
  5. Next, review and make changes to your tax return before you submit it.
  6. Submit and get your refund within 10 days or less!

How to File Taxes Online in 3 Simple Steps With TurboTax

Remember, with TurboTax Online Tax Filing we’ll ask you simple questions and fill out the right forms for you. We’ll find every tax deduction and credit you qualify for to get you the biggest tax refund, guaranteed!