2023 IRS Income Tax Refunds to arrive soon in taxpayer’s accounts

People have been asking continuously when they would get their tax refund. The answer is not available, but a few guesses might answer.

It is essential to consider taxes before the end of 2022 because there is some time left to take advantage of some things that can reduce the tax bill or increase the refund. Suppose someone had to change, including becoming a parent, getting married or divorced, retiring, purchasing a house, and more. In that case, they should take the advice of a tax professional before 2022 ends.

The 2023 tax filing season will be almost regular, like the last few years. Although the pandemic has affected tax credits and deductions for businesses alongside stimulus payments for Americans, they were also sometimes given as a credit on taxpayers’ taxes if they did not receive direct payment.

 

Individual taxpayers won’t have to face any problems this tax season. In the weeks leading to April 18, 2023, the deadline is when Americans file tax returns for the income they received during the 2022 calendar year or can file for an extension, giving them six more months to file.

The tax deadline is April 18, 2023, instead of April 15, since the latter falls on Saturday. The IRS begins to accept tax returns during the last week of January. This might be pushed back by a week or two if significant new tax legislation is passed by the end of 2022. All those expecting an income tax refund will receive it by direct deposit in around two weeks.

Taxpayers who don’t have the paperwork to file their taxes can file an extension form, “Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return.” The taxpayer will get time to file their tax return until October 17, 2023, and no reason or excuse is required to get this extension.