2023 Tax Season compared to the past couple of years
EL PASO, Texas (KVIA) -- The IRS announced January 23rd as the beginning of Tax season for this year, meaning plenty of us are in the process of doing our taxes.
According to the IRS, More than 168 million individual tax returns are expected to be filed for 2023.
We should be expecting a more normal tax season compared to the past two years. However, that means you may want to prepare to see a smaller refund this year without the benefit of a few covid-19 tax breaks. As There were no economic impact payments in 2022, so taxpayers won’t get an extra stimulus payment in their 2023 tax refund checks.
You don’t want to rush the process of tax season. It’s important to gather all relevant tax forms. Once you submit your tax return, and without errors, you can see your refund as soon as 21 days when you filed if you choose direct deposit. October 16th is the extension deadline if requested.
As a reminder, the deadline to submit your 2022 tax returns is April 18th, not April 15th due to the Emancipation day holiday. You have a couple of extra days this year.
