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2023 Tax Changes Part 1

Video Transcript

Welcome back to Money Burst. Today I want to kick off a four-part series on changes coming to the 2023 tax season.
You know every tax season has its own set of changes and differences and things that just confuse us all, but there were four in particular that I wanted to focus on. So, in this video we're going to touch on part one of this series which is a change in the tax deadline.
Now it's not an official change, the IRS always marks April 15th as the official date when you've got to get your taxes in. But there are some things that can shift that date around, and this year we're getting three extra days. The tax deadline is going to be April 18th and the reason why is that the 15th falls on a Saturday.
Now typically when this happens, the IRS just pushes out the due date or the deadline up to the next business day so it would be Monday, April 17th. But the reason why it's not, is because there's a holiday on the 17th. April 17th is Emancipation Day which is a recognized holiday in Washington, DC, which is where the IRS is headquartered.
And so, for this reason it pushes the deadline out one more day to April 18th. So, we all get three extra days to get our taxes in, but please don't wait until the deadline to actually file your taxes.
I know it's a little extra time but hey you know how things get hectic and you don't want to put things off until the last minute. Just know you do have a little bit of extra time.
As I mentioned at the beginning of this video, this will be a quick four-part series focusing on the 2023 tax changes you'll want to be on the lookout for this tax season.