When Will The IRS Accept 2023 Tax Returns

Curious about when you can kick off your tax-filing journey for 2023? Let’s delve into the eagerly awaited moment: “When will the IRS accept 2023 tax returns.” Navigating tax seasons can be a puzzle, but fear not – we’re here to shed light on the crucial dates and unveil the IRS’s opening day for submissions. Understanding these timelines ensures you’re ahead of the game, allowing you to prepare, organize, and file stress-free. Whether you’re a seasoned taxpayer or a first-timer, stay tuned for valuable insights that will empower you to tackle your taxes with confidence this year. Time to demystify the IRS timeline!

when will IRS accept 2023 tax returns

Category	Details
Update	IRS Tax return
Month	Jan 2024
Official website	www.irs.gov

 

As the end of 2022 approaches, taxpayers will soon start preparing their tax returns for the 2023 tax year. Each year, the Internal Revenue Service (IRS) opens the tax filing season in late January or early February, which is when the agency begins accepting and processing the previous year’s tax returns. While the IRS has not yet announced the official start date for the 2023 filing season, past years give us an idea of when to expect to file next year’s taxes.

 

IRS Filing Season Schedule

Over the past decade, the IRS has opened the filing season in the last week of January. Specifically, the start dates were January 27, 2020, January 27, 2019, January 29, 2018, and January 30, 2017.

Based on these trends, taxpayers can expect the IRS to begin accepting and processing 2023 tax returns sometime around January 24-27, 2023.

However, the IRS does not officially announce the filing period for a tax year until late December of the previous year or early January.

For example, the IRS announced the January 24, 2022 start date on December 30, 2021. So taxpayers should watch the IRS website and social media accounts in late 2022/early 2023 for the confirmed 2023 filing season dates.

It’s important to note that while the IRS doesn’t begin processing returns until the official start of the filing period, many tax preparation software companies like TurboTax, H&R Block, and TaxAct allow users to file earlier.

Typically, these providers open up their systems for the new tax year in mid-January. So those who want to file as early as possible may be able to submit their 2023 return in the second or third week of January 2023.

However, the IRS will not process the return and issue a refund until after their computer systems open in late January. So filing early does not speed up the refund process.

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Important 2023 Tax Law Changes

Each new year brings changes to tax laws that taxpayers need to be aware of. Some key things that may impact 2023 tax returns include:

• Standard Deduction: The standard deduction for tax year 2023 will be $13,850 for single filers and married filing separately, $27,700 for married filing jointly, and $20,800 for heads of household. These amounts are adjusted annually for inflation.

 

• Child Tax Credit: The revised Child Tax Credit for 2023 is $2,000 per qualifying child under age 17. Up to $1,500 is refundable. This replaces the expanded 2021/2022 credit.

 

• State and Local Tax Deduction Cap: The SALT cap remains at $10,000 for total state and local income and property tax deductions.

 

• Affordable Care Act Individual Mandate Penalty: The penalty was reduced to $0 beginning in 2019, so it no longer applies.

 

• Earned Income Tax Credit: The EITC income limits and credit amounts have been adjusted for inflation for 2023.

Taxpayers should research how these types of changes may impact their individual tax situation as they prepare to file their 2023 returns early next year.

 

Tips for Filing Early

To file your 2023 tax return as early in the 2023 filing season as possible, here are some tips to keep in mind:

• Gather all your tax documents upfront. Make sure you have received and organized all your critical tax forms like the W-2, 1099s, 1098s, and any other income and deduction records before filing.

 

• Use free filing options if eligible. The IRS Free File system is available for taxpayers who made $73,000 or less in 2023. Many tax software providers also offer free state filing.

 

• E-file instead of paper filing. Not only is e-filing more accurate, but it allows for faster processing and refund times than paper returns. Avoid mailing delays.

 

• Watch for errors and omissions. Be sure to double-check your return for mistakes that could result in the IRS having to reject your filing and issue a delay. Missing or incorrect forms will cause a holdup.

 

• Consider direct deposit. The quickest way to receive a tax refund is through direct deposit versus waiting for a paper check to arrive in the mail.

Following these tips can help you file your 2023 return as early in the 2023 filing season as the IRS will allow. The earlier, the better chance of getting your refund faster once processing begins in late January.

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Final Words

while the IRS has not yet announced the official start date, taxpayers can expect the 2023 tax filing season to begin processing returns in the last week of January 2023. This article provided an overview of past IRS filing season schedules, important 2023 tax law changes to be aware of, and tips for filing your 2023 return as early as possible next year. Be sure to monitor the IRS website in late 2022 and early 2023 for the confirmed dates. Taking time now to gather records and understand any updates to tax rules can help ensure a smooth and early filing experience.

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