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What is the IRS definition of the start date of a business?

Normally, the start date for a business is when the business is registered. This means that a company like an LLC or a partnership is responsible for paying taxes on the date they register with a particular state.

What day does tax season start 2023?

IRS announces when it will begin accepting and processing 2023 tax returns. The agency said it expects more than 128.7 million individual returns this year. The IRS announced it will officially begin accepting 2023 tax returns on Monday, Jan. 29.

What tax year is 2023?

In the U.S., the tax year for individuals runs from Jan. 1 to Dec. 31 and includes taxes owed on earnings during that period. For example, taxes withheld or owed for earnings during the calendar year 2023 would be included on the tax return sent to the Internal Revenue Service (IRS) by most taxpayers in 2024.

What is considered the tax year?

A tax year is usually 12 consecutive months. There are two kinds of tax years: Calendar Tax Year: This is a period of 12 consecutive months beginning January 1 and ending December 31; or. Fiscal Tax Year: This is a period of 12 consecutive months ending on the last day of any month except December.

What tax year are we filing?

January 23: IRS begins 2023 tax season and starts accepting and processing individual 2022 tax returns.

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