Understanding the Earned Income Tax Credit
The EITC, also known as EIC, is a tax credit provided to lower income workers to help offset the basic living expenses. Here's how to know if you're eligible.)
Tax Day 2023 and how to get an extension from the IRS
Tax Day is on Tuesday, Apr 18, 2023. Not ready to file? Submit an electronic request to the IRS for an extension ASAP!
Normally Tax Day is on April 15, but since it falls on a Saturday, the deadline moves to the following Monday - however that falls on a holiday, Emancipation Day, so this year Tax Day is Tuesday April 18, 2023.
If you missed filing taxes by Tax Day on April 18, make sure you know what to do next!
Need more time? Get an extension until Monday October 16.
Everyone who asks gets a free automatic deadline extension, but you need to submit some paperwork first. The easiest way is to submit the request to the IRS through their electronic form by April 18 to avoid penalty fees. Electronically filing this form will pause the penalty fees accruing on your account and extend your tax filing due date to October 16, 2023.
Even if your earned more than $73,000 last year, you can still use the Free Guided Tax Preparation to submit for the deadline extension electronically.
Alternatively you can fill out Form 4868 and mail it in.
If you owe taxes you'll be accruing fees, even with the extension.
If you might owe federal taxes try to not delay any longer. After Tuesday April 18, 2023 interest with start accruing towards unpaid taxes. The deadline extension only pauses the penalty fees, not interest on taxes owed.
The sooner you file your taxes and pay what's due, including the fees and interest, the less you will have to pay if you keep waiting!
Calculate your Federal Income Tax.
Use the free PaycheckCity Salary and Hourly calculators to find how much federal, state, and local taxes you owe per paycheck.
These free resources should not be taken as tax or legal advice. Content provided is intended as general information. Tax regulations and laws change and the impact of laws can vary. Consult a tax advisor, CPA or lawyer for guidance on your specific situation.
