The 2023 tax season will be officially moving, as the Internal Revenue Service begins accepting and processing 2022 returns.
2023 Tax Season
IRS has already warned taxpayers that refunds are likely to be smaller for this year, with some people who expect to get money back ending up owing the government instead. Moreover, obtaining a refund, it could take a little longer, too.
The tax agency has warned that some returns may need extra time to review this year, slowing the process. However, Still, there’s plenty of confusion among taxpayers. Fortunately, you can get free help placing together your taxes and you can always get an extension if you aren’t able to finish in time. Also, there are steps you can take which can get you a refund next year (or a larger one if you’re in line for money back for your 2022 filing).
Here Are Some Frequently Asked Tax Questions
- When does tax filing season begin?
Monday, January 23, The Internal Revenue Service will begin accepting and processing tax returns for the 2022 tax year.
- When is my 2022 taxes deadline?
The deadline for the 2022 tax is Tuesday, April 18 to file your taxes this year, three days later than usual. April 15 falls on a Saturday because of the Emancipation Day holiday in the District of Columbia. If you are unable to make the deadline, You can file for an extension before that date, which will give you until Monday, October 16, 2023, to file.
- How to speed up my refund?
The best way to speed up your refunds, IRS says you must e-file your taxes and avoid paper applications.
- My refund be smaller in 2023?
During the pandemic era, several benefits increased individual refunds. But now, we’re back at 2019 levels.
- What is the standard deduction for the 2022 tax year?
The standard deduction for married couples filing jointly jumped from $800 to $25,900. For single taxpayers and married individuals filing separately, the standard deduction was up $400 to $12,950. For the heads of household, the normal deduction will be $19,400, up $600.
Next year, when you file your 2023 taxes, you’ll see those numbers climb to $27,000 for married partners filing jointly a $1,800 increase, and single taxpayers and married individuals filing individually will see the standard deduction boost to $13,850, up $900. The normal deduction for heads of household will jump to $20,800 for the tax year 2023, a $1,400 increase.