I just wanted to post some important tax deadlines for 2023 that recently changed , mostly due to natural disasters.
First, let’s start with federal taxes. The deadline to file this year is this Tuesday, April 18, 2023. Taxpayers requesting a filing extension on their federal return will have until Oct. 16, 2023.
Keep in mind, filing an extension doesn’t push back your payment deadline. You still need to submit anything you owe on time to avoid late penalties. An extension just gives you more time to complete your return.
In addition, the IRS has extended the filing deadline in states impacted by severe weather conditions recently:
- New York residents impacted by winter storms and snowstorms in December have until May 15, 2023, to file their returns and make payments.
- Taxpayers in Mississippi affected by tornadoes and severe storms in March now have until July 31, 2023.
- Due to storms, mudslides, and other natural disasters this winter, the IRS has also given residents of Alabama, California, and Georgia until Oct. 16, 2023, to file federal returns and make payments.
The updated list of states eligible for extensions is available on the IRS website.
Here’s some general information for filing your states taxes.
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming do not collect income taxes, so the rest of this is not applicable.
For the 41 states that do collect taxes, most are following the federal timeline with April 18th as the deadline.
There are some exceptions:
- Iowa May 1
- Virginia May 1
- Delaware May 2
- Louisiana May 15
Also, California has extended the deadline for state returns for residents affected by severe weather to May 18, 2023.
Please comment or send an email if you have any questions. Thanks!
Joe Baker, CFP®
Baker Asset Management, LLC
