The IRS will begin accepting and processing 2022 tax year returns on Jan. 23, saying in News Release IR-2023-05 on Thursday that most electronic filers will receive their refund within 21 days if they choose direct deposit and there are no issues with their tax return.
More than 168 million individual tax returns are expected to be filed, with the vast majority of those coming before the April 18 tax deadline, the IRS said. People have extra days to file this year because the usual deadline of April 15 falls on a Saturday and Washington, D.C., marks the Emancipation Day holiday on Monday, April 17. Monday, Oct. 16 is the deadline for taxpayers who request an extension on filing their 2022 returns.
While the IRS will begin accepting returns Jan. 23, it can't send refunds to taxpayers claiming the earned income tax credit or additional child tax credit before mid-February. This is because of the 2015 Protecting Americans From Tax Hikes Act, P.L. 114-113, that Congress passed to provide extra time for the agency to review the returns for fraud.
Taxpayers should check Where's My Refund? on IRS.gov for their personalized refund status.
IRS Free File opens Friday (Jan. 13) when participating providers will accept completed returns and hold them until they can be filed electronically with the IRS. Many commercial tax preparation software companies and tax professionals will also be accepting and preparing tax returns before Jan. 23 to submit the returns when the IRS systems open.
More tips and resources are available at the Steps to Take Now to Get a Jump on Your Taxes page on IRS.gov.
— To comment on this article or to suggest an idea for another article, contact Martha Waggoner at Martha.Waggoner@aicpa-cima.com.