The 2023 tax season is officially underway and Fantcho Financial is here to help you get organized and file your returns quickly and efficiently. With nearly all taxpayers expected to file electronically this year, it’s important to have all the necessary information and resources at hand to ensure a smooth and stress-free process.
The IRS began accepting tax returns on Monday, January 23, 2023, so now is the time to gather all your required documents and get started. It’s important to note that the earlier you file, the sooner you may receive your tax refund (if applicable), so don’t wait to file your returns.
The tax filing deadline for most Americans is April 18, 2023. However, due to the recent California storms, the IRS has extended the deadline to May 15, 2023, for those affected in areas designated by the Federal Emergency Management Agency (FEMA). This extension is being offered to individuals and businesses in areas including Los Angeles and San Francisco. If you’re unsure whether or not you qualify for this extension, be sure to check the full list on the IRS website.
If you need more time to file your returns, the IRS offers the option to request an extension. By filing Form 4868, you can receive an automatic six-month extension of time to file your return. It’s important to note, however, that an extension for filing is not an extension for paying taxes. If you owe taxes, it’s crucial to pay them by the original due date to avoid late payment penalties.
In conclusion, the 2023 tax season is underway and Fantcho Financial is here to help you navigate the process. Make sure to gather all the necessary documents, take advantage of the available extensions if needed, and file your returns as soon as possible to get your tax refund faster. If you have any questions or concerns, don’t hesitate to reach out to us for assistance.