Preparing for 2023 Tax Season: Filing Deadlines, Tracking Refunds & Deduction Tips

It's tax season and the deadline to file your 2022 tax return is April 18, 2023.^[0] The IRS encourages you to file as early as possible, but there are also reasons to wait until later.^[1] When you do go to file, there are a few things to keep in mind. Here's what you need to know about the 2023 tax season, including filing deadlines, how to track your refund, and which deductions to take advantage of.

When filing taxes, the IRS recommends selecting direct deposit as your refund method and entering your bank account and routing numbers. You can also split your refund between two or three accounts, including IRAs.^[2] If you don't have a bank account, you can still set up direct deposit onto a prepaid debit card, or a mobile app.

The majority of taxpayers who file electronically and opt for direct deposit can expect to receive their refund within 21 days.^[3] However, if you choose to file by paper, it can take at least four weeks for the funds to hit your account.^[2] If you receive a check in the mail, it can take up to six to eight weeks.^[4]

For those with an income of $73,000 or less, the IRS offers a free online filing program.^[5] You can also use other services like Cash App Taxes or Turbo Tax.^[6]

When filing, it's important to consider the changes in deductions for the current tax season. Last year's allowance for a $300 charitable deduction ($600 for joint filers) is gone, and all charitable deductions are now part of an itemized deduction.^[5] The adjusted gross income ceiling on charitable cash contributions is back to its usual 60 percent.^[7]

Once you've filed, you can use the Where's My Refund?^[8] page on the IRS website to track the status of your refund. You can also call 800-829-1954 to get information on the status of your refund.^[2]

Tax season can be confusing, so it's important to do your research.^[9] Make sure to take advantage of free filing options and remember to use direct deposit to get your refund faster and cheaper. Also, be sure to stay up to date on all the changes in deductions and tax brackets. With these tips, you'll be able to file your taxes confidently and get your refund with minimal stress.

0. “When Do You Need to File Your 2022 Taxes By?” The Motley Fool, 6 Feb. 2023, https://www.fool.com/the-ascent/taxes/articles/when-do-you-need-to-file-your-2022-taxes-by

1. “Get a Jump on Your Taxes With These Tips From the IRS for 2023” AOL, 7 Feb. 2023, https://www.aol.com/jump-taxes-tips-irs-2023-143035136.html

2. “IRS Says Direct Deposit Is the Best Way to Receive Your Tax Refund” Kiplinger's Personal Finance, 7 Feb. 2023, https://www.kiplinger.com/taxes/direct-deposit-tax-refund

3. “Are you ready to file your taxes? What to know about Florida deadlines and extensions” AOL, 6 Feb. 2023, https://www.aol.com/ready-file-taxes-know-florida-100000820.html

4. “Where's My Tax Refund? How to Track Your IRS Money Into Your Account” CNET, 19 Feb. 2022, https://www.cnet.com/personal-finance/taxes/wheres-my-tax-refund-how-to-track-your-irs-money-into-your-account/

5. “What you need to know about paying your taxes, 2023 edition Manchester Ink Link Biz” Manchester Ink Link, 4 Feb. 2023, https://biz.manchesterinklink.com/what-you-need-to-know-about-paying-your-taxes-2023-edition/

6. “Stretch Your Dollar: Navigating the tax system” WTNH.com, 7 Feb. 2023, https://www.wtnh.com/on-air/stretch-your-dollar/stretch-your-dollar-navigating-the-tax-system

7. “Tax season 2023: Everything to know before you file and how to get your refund fast” Yahoo Life, 6 Feb. 2023, https://www.yahoo.com/lifestyle/tax-season-2023-everything-know-184620135.html

8. “Refund check, Direct Deposit or Prepaid Debit Card? What is the best way to get your refund according to the” Marca English, 7 Feb. 2023, https://www.marca.com/en/lifestyle/us-news/personal-finance/2023/02/07/63e26bbe46163fb60f8b45df.html

9. “What Looks Different And What You Need To Know About Your 2022 Tax Return” Forbes, 7 Feb. 2023, https://www.forbes.com/sites/kellyphillipserb/2023/02/06/what-looks-different-and-what-you-need-to-know-about-your-2022-tax-return/