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Important Reminders for October Extension Filers Extension of Time to File

Posted by Admin Posted on Sept 22 2023

Important Reminders for October Extension Filers Extension of Time to File

Most taxpayers who requested an extension of time to file for their 2022 federal income tax return will have until Monday, October 16, 2023, to file. 
 

Although October 16 is the last day for most people to file, some taxpayers may have more time. These taxpayers include: 

 

  • Those serving in or in support of the Armed Forces in an area designated as a combat zone or contingency operation. They typically have at least 180 days after they leave the combat zone to file returns and pay any taxes due. For more information, see IRS Publication 3, Armed Forces’ Tax Guide. 

 

  • If you’re a citizen or resident alien working abroad, refer to Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad for details. 

 

  • Taxpayers in federally declared disaster areas who already had valid extensions. For more details, see the disaster relief page on IRS.gov.
     

Here are some key reminders for extension filers. 

Tax Filing Information 

Nearly everyone can e-file their tax return for free through IRS Free File. The program is available on IRS.gov now through October 16. E-filing is easy, safe, and the most accurate way for people to file their tax returns. The TAS website has additional information on Free File options and additional information on options for filing a tax return.
Filing when a refund is due: 

Taxpayers who are able should use direct deposit to get their tax refund electronically deposited into their financial account. If you are filing a paper return, check the Where to File Tax Returns webpage or the Form instructions to determine the correct address for where to mail it. 

 

Paying a tax balance:

 

Taxpayers who cannot pay in their balance in full should pay as much as possible when filing and evaluate payment options to resolve any remaining balance and avoid or reduce any further potential penalties and interest.  

 

If you did not already make a payment, the best way to pay is online from a checking or savings account with IRS Direct Pay, by debit or credit card (this option has an associated fee), or by Electronic Funds Withdrawal when you e-file. The TAS website has additional Get Help information on many topics related to paying taxes. 

Taxpayers can always check their account balance, view payments made, view prior tax accounts, or view and apply for payment options online. For more information about online accounts, see our TAS Tax Tip: Create an Online Account to view your balances, make payments, get transcripts, and more and the IRS’s Frequently Asked Questions About Online Account. 

 

Missed Tax Filing Deadline

 

What should taxpayers do about a missed filing deadline? Anyone who did not file or request an extension by this year’s deadline, or misses the October 16 extension date, should file and pay as soon as possible. (See the ‘Filing’ section above for more filing related information.) This will stop additional interest and penalties from accruing.  

See the Filing Past Due Tax Returns page on IRS.gov for more information. The TAS website has additional information on the consequences of not filing. 

 

If you have any questions regarding Essential Business Accounting, Domestic Taxation, International Taxation, IRS Representation, U.S. Tax Implications of Real Estate Transactions or Financial Statements, please give us a call at +1-305-274-5811

Source : TAS     

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