2023-01-17 19:00:23

Here's the First Day You Can File Your Taxes in 2023

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By The Motley Fool

Image source: Getty Images

Filing taxes is the sort of thing you may not be in a hurry to do. In fact, a lot of people find the process of filing taxes stressful, so they put it off as long as they can.

But being late with a tax return could have negative consequences if you owe the IRS money from the previous tax year. So it's important to do what you can to get your return filed on time.

Discover: Find the best tax software for your situation here

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This year, the tax-filing deadline is April 18. Normally, it falls on April 15, but due to the 15th falling on a weekend and Monday, April 17 being Emancipation Day, a Washington, D.C. holiday, filers get a touch more time to submit their taxes in 2023.

That said, the IRS has announced that it will begin accepting tax returns on Jan. 23. And if you're able to file your taxes in late January rather than waiting, it could benefit you in a couple of ways.

It pays to file early

In some cases, filing taxes in January may not be possible, such as if you're waiting on tax forms you haven't received. But if you have a simple tax return -- say, all you need to do is report income from a single salary and interest income from your savings account -- then you may be in a good position to file your taxes at the end of this month. And doing so has its advantages.

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