GREENSBORO, N.C. — It almost feels too soon, but it is time for taxes.
The IRS just released all the dates you need to know.
The IRS will begin accepting returns on January 23, 2023.
You can do your taxes before the 23rd, but the IRS won't accept the info until then.
January 31, 2023, is the deadline for employers to give out W-2s. Most employers will make them available before then, but this is the deadline.
Tax Day is a Tuesday, April 18, 2023. The 15th is on the weekend and that Monday is a Washington D.C. holiday, so Tax Day is on a Tuesday.
WHY YOUR REFUND MAY BE SMALLER THIS YEAR
“A lot of what we find is a lot of taxpayers expect their refund to be the same from year to year and unfortunately this is going to be one of those years where it’s not going to be the same,” said Ryan Dodson, Liberty Tax Services
Here's why it's not going to be the same. The tax laws changed in 2022, back to pre-COVID tax laws.
This year, the Child Tax Credit reverts back to $2,000 per child. Last year, there was a credit of $3,000 to $3,600 per child. At a minimum, you're getting a thousand dollars less.
Also this year, the Child and Dependent Care Credit allows for up to 30% to be claimed. Last year, there was a 50% max credit.
Tax experts say you may not even get this 30%.
HOW TO E-FILE YOUR TAXES FOR FREE
How about we end with some good news when it comes to taxes?
The IRS free file is up and running. If you made $73,000 or less in 2022, you can file your taxes electronically for free, using brand name software.
Do you want to speed up your refund? The IRS is very clear on that. File electronically and get your refund by direct deposit. Straight from the IRS: to avoid delays you should avoid filing paper returns.