‘Tis the season for ... tax returns! The holidays are officially over, and 2023 tax season is nearly upon us. The IRS rang in the upcoming tax season with their announcement on Monday: it will begin accepting and processing 2023 tax returns on January 29. [1]
Taxpayers can expect to see helpful changes at the IRS this season as they focus on improving services. IRS Commissioner Danny Werfel states, “As our transformation efforts take hold, taxpayers will continue to see marked improvement in IRS operations in the upcoming filing season. IRS employees are working hard to make sure that new funding is used to help taxpayers by making the process of preparing and filing taxes easier.” [2]
New resources include:
The opening and re-opening of Taxpayer Assistance Centers (TACs) for expanded in-person services.
Increased help on the toll-free line and the addition of a call-back feature to reduce wait times.
Improvements to the Where’s My Refund? tool, including clearer and more detailed updates—such as whether the IRS needs additional information.
Enhanced paperless processing that will enable taxpayers to submit all correspondence, non-tax forms, and responses to notices digitally, and will include the ability to e-File 20 additional tax forms.
An improved IRS Individual Online Account that includes chat, the ability to schedule and cancel payments, revise payment plans, and validate and save bank accounts.
Direct File—a new, pilot tax filing service that provides taxpayers with a new choice to file their 2023 federal tax returns online, for free, and directly with the IRS. It is expected to be widely available in mid-March. [2]
Most refunds are issued in less than 21 days—although many different factors can affect the timing of a refund after the IRS receives a return. When planning their financial strategy, it’s important that taxpayers do not rely on receiving a refund by a certain date, especially when making major purchases or paying bills. [2]
Mark your calendars with these 2024 filing season dates:
January 12 | IRS Free File opens—participating software companies will accept completed returns and hold them until they can be filed electronically with the IRS. |
January 16 | Due date for 2023 fourth quarter estimated tax payments. |
January 26 | Earned Income Tax Credit Awareness Day. |
January 29 | Filing season start date for individual tax returns. |
April 15 | Due date for filing a tax return, or to request an extension. |
April 17 | Due date for Maine and Massachusetts. |
October 15 | Due date for extension filers. |
Internal Revenue Service [2]
Tackle the 2023 tax season with our team of expert CPAs—give us a call to schedule a consultation today.
Sources:
Waggoner, M. (2024, January 9). IRS to begin accepting and processing 2023 tax returns on Jan. 29. Journal of Accountancy. https://www.journalofaccountancy.com/news/2024/jan/irs-to-begin-accepting-processing-2023-tax-returns-on-jan-29.html?utm_source=mnl%
IRS to begin accepting and processing 2023 tax returns on Jan. 29. (2024, January 9). Journal of Accountancy. https://www.journalofaccountancy.com/news/2024/jan/irs-to-begin-accepting-processing-2023-tax-returns-on-jan-29.html?utm_source=mnl:cpal&utm_medium=email&utm_campaign=09Jan2024 3Acpal&utm_medium=email&utm_campaign=09Jan2024