The IRS has just announced that Monday, January 23 is the official start date for the 2023 Tax Season with the opening of e-File for Federal 1040 Individual Returns.
IRS News Release: IR-2023-05 -Thursday, January 12 | Español – IRS Sets January 23 as Official Start to the 2023 Tax Filing Season
We are providing access to the complete IRS News Release above but please pay close attention to these two important reminders included within the news release:
EITC/ACTC Refunds for Many Available Starting February 28:
The IRS anticipates most taxpayers will receive their refund within 21 days of when they file electronically, if they choose direct deposit and there are no issues with their tax return. Taxpayers should check Where’s My Refund? on IRS.gov for their personalized refund status.
While the IRS will begin accepting returns January 23, the IRS cannot issue a refund that includes the Earned Income Tax Credit or Additional Child Tax Credit (ACTC) before mid-February. This is due to the 2015 PATH Act law passed by Congress, which provides this additional time to help the IRS stop fraudulent refunds from being issued.
Where’s My Refund? should show an updated status by February 18 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayer bank accounts or on debit cards by February 28 if taxpayers chose direct deposit and there are no other issues with their tax return.
Awaiting Processing of Previous Year Tax Returns? Taxpayers Can Still File TY2022 Returns:
Currently, the IRS has processed all paper and electronic individual tax year 2021 returns received prior to November 2022 that didn’t require error-correction or further review. The IRS continues to work on remaining tax returns in these categories. This work will not impact tax refund timing for people filing in 2023, but the IRS continues to urge people to make sure they submit an error-free tax return this tax season to avoid delays. Check the IRS Operations page | Español for the latest information about the status of tax returns received in 2022.
(Repeat) Business e-File is Now Open!
Effective today – Thursday, January 12 at 9:00 AM ET, Business e-Filing is now open for the return types listed below. Please refer to our previous communication for more information.
1120 – Corporation Income Tax Return
1120-S – S Corporation
1065 – Partnership Income
1041 – Estates and Trusts
990 – Tax-Exempt Organizations
MeF Operational Status Available at IRS.gov:
Modernized e-File (MeF) provides electronic filing and payment options for filers of Corporation, Employment Tax, Estates and Trusts, Excise Tax, Exempt Organization, Individual, and Partnership Tax Returns. You can check the system status 24/7 on the IRS MeF Operational Status page.
If you have any questions about this information, please contact the uTax Partner Support Team at 206-209-2653 or email us at email@example.com.