Sticking to the IRS deadlines each year is usually easier if you plan your taxes. Knowing the dates helps you get a clear idea of when you need to have the paperwork ready for a timely tax return filing. The tax return filing date for the 2022-23 fiscal year is April 18, 2023.
Tax day can be a headache in any year, especially for freelancers
, independent contractors, W-2 employees and self-employed individuals. They are used to sorting through heaps of receipts and IRS tax forms
at the last moment, which can result in errors.
Even W-2 employees, whose taxes are withheld and paid by their employer, need to file an annual tax return to declare their earnings.
If a W-2 employee is also working as an independent contractor, they will need to file self-employment taxes like any other self-employed individual, if they earn more than $1,000 in self-employment taxes every year.
Tax filing season is also a busy time for LLCs
, sole proprietorships
, whose finance teams work overtime to meet tax deadlines.