Are you trying to figure out what the IRS Tax filing deadline for the 2023 tax year is? Then look no further than this post. The tax filing deadline for regular filers for the 2023 tax year, is roughly estimated to be:
April 15, 2024
Mark your calendars! Missing the tax filing deadline without filing an extension means that the IRS can hit you with penalties and interest on your taxes owed. If you do end paying your taxes late, you can expect to pay a .5% monthly penalty on the amount due, up to 25% on top of your originally owed taxes, plus interest.
While that may not seem too bad if you're in a pinch, there's another thing to consider too, you might miss out on being able to claim tax credits. Long story short, paying your taxes on or before the deadline has some significant benefits and will keep you out of trouble and audit risk with the IRS.
Estimated tax filing deadlines
While the regular filing deadline is what will be needed for most employees, if you have self-employment income, then you'll also want to be sure that you're taking care of paying your estimated taxes for the year. There are 4 deadlines throughout the year to pay your estimated tax for each quarter, and generally speaking they always fall in the middle of April, June, September, and January. For 2023, the estimated tax payment dates are:
April 15th, 2023
June 15, 2023
September 15, 2023
January 17, 2024
If this is your first year having self-employment income, then the IRS won't impose any penalties for missing these deadlines. However, if you do have self-employment income, you are expected to pay estimated taxes throughout the year. If you end up not paying enough come tax time, you could face an interest and/or a penalty payment on the April 15th deadline.
Other Tax Deadlines
Finally, might be wondering what the tax filing deadline is for your other income, like stocks, equities, and possibly even cryptocurrencies. In the case of the IRS in the US, the agency treats income from these assets and properties just like job income, meaning that you'll have to keep the deadlines we mentioned in the prior part of the this article.
For stocks and equities - traditional assets - chances are your brokerage will send you the necessary forms to be able to file taxes on any income you've made from your holdings, like a 1099B. However, if you've traded cryptocurrencies, you may be left out in the dust by your exchange, wallet, or platform. But there's good news.
The Ledgible Crypto Tax & Accounting Platform takes care of calculating your crypto tax burdens and even spits out all of the necessary forms for tax filing on your own (through a system like TurboTax or TaxAct) or for filing with your CPA or Accounting (through systems like Wolters Kluwer CCH Axcess or Thomson Reuters UltraTax or GoSystem).
Getting started with Ledgible is completely free for DIY tax filers and professionals alike, meaning that there's no risk to give it a try. Ledgible is the only consumer and professional platform that is SOC 1 & 2 independently audited, making it the right fit for any traders or professionals needing assurances about security.
You can learn more about Ledgible here.