The IRS is now accepting tax returns. But when are taxes due in 2023? No matter if you've begun assembling the documents you need to file your taxes, or you're still waiting on a W-2, you need to know the due date.
If you regularly file your taxes, you may recall that tax day typically falls on April 15. However, April 15, 2023 falls on a Saturday this year. The following Monday is Emancipation Day, a recognized holiday in Washington D.C.
Top products in this article:
TurboTax Deluxe, $39 (regularly $59)
TurboTax Premier, $69 (regularly $89)
When are taxes due in 2023?
Tuesday, April 18, 2023, is the tax filing deadline for most Americans.
On Jan. 11, the IRS announced that California storm victims now have until May 15, 2023 to file various federal individual and business tax returns and make tax payments. The IRS is offering the extension to people in areas designated by the Federal Emergency Management Agency (FEMA). Included areas cover much of the state. Think you might qualify for an extension?Click here to see the full list.
Need more time to file? According to the IRS, you should request an extension of time to file. To receive an automatic 6-month extension of time to file your return, you must fileForm 4868. An extension of time to file is not an extension of time to pay. You may be subject to a late payment penalty on any tax not paid by the original due date of your return.
Stay on top of your taxes with tax software such asTurboTaxandH&R Block.
TurboTax Deluxe $39 (regularly $59)
TurboTax Premier, $69 (regularly $89)
TurboTax Self-Employed, $89 (regularly $119)
How to e-file your taxes in 2023
When it comes to e-filing, also known as online filing, there seem to be as many options to get the job done as there are forms to fill out. Which online filing option is right for you may depend on your income, your budget, the complexity of your return -- and perhaps your patience for filling out forms.
We found the best online tax filing options, includingIRS Free FileandTurboTax, that should work for just about every and any kind of taxpayer.
Looking for some motivation to get started? The IRS is now accepting tax returns. The earlier you file your taxes, the earlier you'll get your tax refund.
TurboTax
Intuit'sTurboTaxis the giant in the tax-prep space, scoring73 percent of salesin last year's tax high season, per the data analytics outfit Bloomberg Second Measure. Its services are basically divided into two areas: do-it-yourself online taxes and tax-pro-assisted online taxes.
TurboTax Free Edition
This free version of TurboTaxis a great option for taxpayers whose income is largely from W-2s and savings in the bank. The tax software includes a free filing of your simple federal and state tax returns. According to TurboTax, the Free Edition covers W-2 income, Earned Income Tax Credit (EIC) and child tax credits, plus your standard deductions, student loan interest deductions and limited interest and dividend reporting (1099-INT, 1099-DIV).
It's worth noting that TurboTax Free Edition can not handle 1099-G unemployment income or itemized deductions.
The Federal Trade Commission (FTC) is currentlysuingTurboTax parent company Intuit, claiming the software company is misleading people with its promotions over free tax filing. (Intuit, for its part,saysit follows IRS rules and has called the allegations "simply not credible.")
Users get anytime assistance from TurboTax's online community of TurboTax specialists. Worried about something going wrong? TurboTax Free Edition includes guidance in case of an audit, backed by TurboTax's audit support guarantee.
For simple tax returns only, not all tax payers qualify.
TurboTax Deluxe
TurboTax Deluxe includes all the features of TurboTax Free Edition, plus a few extras. It's a good option for homeowners. This TurboTax version offers homeowners step-by-step guidance on how to turn their home investment into a major tax break. (If you're hoping to deduct the interest you paid on your mortgage, you'll want to go with TurboTax Deluxe.)
TurboTax Deluxe includes a search of more than 350 tax deductions and credits to find all qualifying tax breaks. And should an unexpected form arrive late, this software lets you make changes to your 2021 tax return, online, up to three years after it's been filed and accepted by the IRS.
TurboTax Deluxe includes one-on-one support from live TurboTax product specialists.
TurboTax Deluxe $39 (regularly $59)
TurboTax Deluxe can be upgraded toTurboTax Live Deluxe. The upgrades gives customers access to unlimited tax advice and an expert final review.
TurboTax Live Deluxe, $89 (regularly $129)
TurboTax Premier
TurboTax Premier has all the features of TurboTax Deluxe, but is also great for taxpayers with investment incomes, such as stock, cryptocurrency, bonds, ESPPs, robo-investing and income from rental properties. If you've been buying and selling on Robinhood or Coinbase -- especially selling, which is a taxable event -- TurboTax Premier is likely the version for you. It makes reporting these transactions easy, even there are a lot of them -- the software can import thousands of transactions directly from brokers.
Similarly, if you own your house and are renting a spare room to a friend or family member, this version will help you report the income and locate common deductions that can save you hundreds or even thousands of dollars.
Like all TurboTax software, Premier aims to give customers the biggest tax break possible. TurboTax Premier searches for more than 450 tax deductions and credits to find qualifying tax breaks.
TurboTax Premier, $69 (regularly $89)
TurboTax Premier can be upgraded toTurboTax Live Premier. The upgrades gives customers access to unlimited tax advice and an expert final review.
TurboTax Live Premier, $139 (regularly $179)
TurboTax Self-Employed
TurboTax Self-Employed includes all of the features of the other TurboTax versions as well as some important extras for taxpayers who work for themselves. If you've got a freelance job orDoordash deliveryside hustle, for example, this is the TurboTax version for you.
Ideal for 1099-NEC incomes, this TurboTax version helps you complete all relevant self-employment tax forms and will also let you know if a Schedule SE or "Self-Employment Tax" is required by the IRS.
This version of the tax software looks through your transactions for industry-specific deductions, including real estate, ride shares, delivery driving, online retail and personal or professional services. If your business has employees, this tax software allows you to prep and print unlimited W-2 and 1099 forms.
TurboTax Self-Employed, $89 (regularly $119)
TurboTax Self-Employed can be upgraded toTurboTax Live Self-Employed. The upgrades gives customers access to unlimited tax advice and an expert final review.
TurboTax Live Self-Employed, $169 (regularly $209)
H&R Block
H&R Blockoffers four online filing options. They're called "Free Online," "Deluxe," "Premium" and "Self-Employed." Many of these options are on sale now.
"Free Online," which is billed at $0, is for those with super-simple returns, such as W-2 income only. Unlike TurboTax, H&R Block's no-charge tier works for people with unemployment income, too. The H&R Block site says the cost of a state return at this level is likewise $0.
For those with itemized deductions, a Health Savings Account (HSA) and/or real-estate deductions, H&R Block customers will want to look at the "Deluxe" level and above. Live tech support is included in the "Deluxe" ($35), "Premium" ($55) and "Self-Employed" ($85) packages.
Like TurboTax, H&R Block bills all of its pay packages as being "start for free."
TaxAct
After TurboTax and H&R Block,TaxActis the next-biggest tax-prep software service. Among the big three, TaxAct is the only one currently affiliated withIRS Free File. In addition to providing that service to qualified taxpayers, TaxAct boasts a range of online-filing packages for any and all customers, regardless of income bracket.
Like TurboTax and H&R Block, TaxAct has a free tier (literally named "Free") that covers those with straight-forward returns – W-2 income, unemployment income and the like. A state return at this level usually costs $35 per state filed.
The other TaxAct packages are: "Deluxe" ($25); "Premier" ($35); and "Self Employed" ($65). At each of these levels, a state return, if requested, costs $45 per state filed.
All four packages, including "Free," come complete with access to over-the-phone tax experts. And, yes, all of TaxAct's premium packages are billed as being "start for free."
Free File Fillable Forms
Free File Fillable Formsis a sister service ofIRS Free File; it's open to all taxpayers, including those who made more than $73,000 in 2021. Like IRS Free File, it's a completely free online-filing option.
A seasonal program, Free File Fillable Forms is open every year from roughly mid-January to mid-October. It's an online repository of every and any form you'll need for a federal return. Once you're finished with your work, you may electronically sign the return, and submit it via the site.
Free File Fillable Forms definitely has its limitations: It doesn't give advice; it doesn't do state returns; it doesn't allow you to do federal returns for anything but the current tax year; it doesn't let you do revisions once you've filed; and, as the IRS cautions, it doesn't do an "extensive" math check on your numbers.
The site is currently closed but should open again soon for the 2022 tax year.
IRS Free File
In 2020, a U.S. watchdog agencyfoundthat fewer than three percent of the 104 million U.S. taxpayers who could've filed free online returns throughIRS Free Filetook advantage of the program. Don't leave free services on the table this year. If you're looking to e-file your federal return, then you may want to make IRS Free File your first stop. As CBS News noted, the IRS-backed program is the "only sure way" to file a free federal return.
This year, IRS Free File is open to all U.S. taxpayers whose 2022 adjusted gross incomes were $73,000 or less. And it doesn't matter if you're reporting unemployment income or capital gains; if you meet the program's income eligibility, then IRS Free File will find you an online service that'll do your tax math, answer so-called "simple" questions and submit your returns -- all for free.
One important note: For the 2023 tax season, eight companies are participating in IRS Free File, including some names you may recognize, such asTaxActandTaxSlayer.
The easiest way to see what's available to you via IRS Free File is to go tothe IRS website. Enter your age, state of residence, adjusted gross income and a couple of other details. The system will show you which of its tax-prep partners are a match for you. Some of the affiliated providers will even do state returns for free. The IRS Free File page is currently closed, but it says to check back later this month to prepare and file your federal taxes for free.
What is the average tax refund in 2023?
Not sure how much money to expect back when filing your taxes this year? Experts warn that the average refund is down, year over year. The average tax refund in 2023 (so far) is $1,963, lower than last year's average of $2,200.
If you need to get your tax refund as soon as possible, consider using a service that offers free tax refund advances, such as TurboTax. A tax-refund advance is a short-term loan that gets you what's owed to you (or, at least some of the amount), sometimes as soon as the day you file. The loans are backed by your expected refund and are usually repaid by (that is, deducted from) your eventual IRS refund.
Related content from CBS Essentials:
- How to do your taxes in 2023
- Here's how to get your 2023 tax refund early
- Decoding TurboTax: Which TurboTax version is best for you in 2023?
- Best deals this week at Best Buy: tech, refrigerators, robot vacuums and more
Lily Rose is a senior writer for CBS Essentials and the site's expert in home appliances such as washers, dryers, refrigerators and ranges. When she's not writing about how you can upgrade your laundry room, she's writing about home and kitchen essentials that will transform your space. Her favorite appliance is her air fryer. She firmly believes that it can make the crispiest sweet potato fries.
IRS due dates can be a bit of a maze, right? There are some great pointers in that article! So, diving into the info:
Tax Filing Deadline for Most Americans: April 18, 2023. However, it's extended to May 15, 2023, for California storm victims in FEMA-designated areas.
Extensions: If you need more time, file Form 4868 for an automatic 6-month extension. Remember, it's an extension to file, not to pay, so late payments might incur penalties.
Tax Software Options: TurboTax and H&R Block offer various packages based on your tax needs:
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TurboTax Free Edition: Ideal for simple tax returns with W-2 income, EIC, child tax credits, standard deductions, and more. It doesn't cover 1099-G unemployment income or itemized deductions.
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TurboTax Deluxe: Includes features of the Free Edition, plus guidance for homeowners and 350+ deductions and credits.
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TurboTax Premier: For investment incomes like stocks, cryptocurrencies, and rental properties, with over 450 deductions and credits.
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TurboTax Self-Employed: Designed for freelancers and self-employed individuals, covering specific deductions for various industries.
H&R Block offers similar tiers: Free Online for simple returns, Deluxe for itemized deductions, Premium for complex returns, and Self-Employed for freelancers.
TaxAct: Another option with free and premium packages catering to different tax needs.
IRS Free File: Open to taxpayers whose 2022 adjusted gross incomes were $73,000 or less. It connects you with online services that do your tax math, answer questions, and submit returns for free.
Average Tax Refund: In 2023, the average refund is $1,963, slightly down from the previous year.
Tax Refund Advances: Services like TurboTax offer tax refund advances, which are short-term loans backed by your expected refund, providing you with some funds on the day of filing.
This article breaks down various tax software options, extensions, and the intricacies of IRS due dates, providing a comprehensive guide for navigating the tax season.
