How To File Taxes With The Irs In 2023


Live in N.J.? You’ll pay more in taxes over a lifetime than anywhere
Live in N.J.? You’ll pay more in taxes over a lifetime than anywhere from www.nj.com

What You Need to Know

If you’re a taxpayer in the United States, it’s important to know that filing taxes with the IRS is a yearly requirement. Every year, taxpayers must file taxes with the IRS by the tax filing deadline. For the 2023 tax year, the filing deadline is April 15th, 2023. Knowing the basics of filing taxes, including what you need to do and when you need to do it, is essential for staying compliant with the IRS.

Filing Your Tax Return

The first step to filing taxes with the IRS is to complete and submit your tax return. Your tax return is a document that states your income, deductions, and credits for the year. It’s important to make sure that all of the information on your tax return is accurate, as the IRS may audit your return if they find any errors or inconsistencies. To complete your tax return, you can use tax filing software or a tax professional.

Choosing Your Filing Status

When filing your taxes with the IRS, you must select a filing status. Your filing status will determine the tax rate that you pay, as well as any deductions and credits that you can claim. The five filing statuses are single, married filing jointly, married filing separately, head of household, and qualifying widow or widower. You must choose the filing status that best describes your situation.

Submitting Your Tax Return

Once you have completed your tax return and chosen the correct filing status, you can submit your tax return to the IRS. You can submit your return electronically or by mail. Electronic filing is the preferred method of filing taxes with the IRS, as it is faster and more secure than mailing in your return. You can use IRS e-File to submit your return electronically.

Paying Your Taxes

If you owe taxes to the IRS, you must make a payment by the tax filing deadline. You can make a payment online, by mail, or by phone. You can use a credit card, debit card, or electronic funds transfer (EFT) to pay your taxes online or by phone. If you mail in your payment, you must include your payment voucher, which is included with your tax return.

Receiving Your Refund

If you are owed a refund, the IRS will process your return and issue your refund within 14 days if you submit your return electronically. If you mail your return, the process may take up to 8 weeks. You can track the status of your refund using the IRS’s Where’s My Refund? tool.

Extending Your Tax Return

If you cannot file your tax return by the tax filing deadline, you can request an extension from the IRS. This will give you an additional 6 months to file your return. However, you must pay any taxes that you owe by the tax filing deadline. If you do not pay your taxes on time, you may incur penalties and interest.

Getting Help with Your Tax Return

If you need help filing your taxes with the IRS, you can contact the IRS for assistance. The IRS provides free tax preparation services for taxpayers with an annual income of $54,000 or less. Additionally, you can use tax filing software or a tax professional to help you complete and submit your return.

Conclusion

Filing taxes with the IRS is an annual requirement for taxpayers in the United States. To file your taxes, you must complete and submit your tax return, choose the correct filing status, and pay any taxes that you owe by the filing deadline. If you need help, the IRS provides free tax preparation services and you can also use tax filing software or a tax professional.


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