2nd Quarter 2023 |
The second quarter of a calendar year is made up of April, May, and June. |
April 3: |
Required minimum distribution due if you turned 72 in 2022. If you turned 72 in 2022, you have until April 3, 2023 to take your 2022 required minimum distribution (your first required distribution) from your retirement account. After passage of the SECURE Act in 2019, if you turned 70 years old on or after July 1, 2019, you don’t need to take RMDs until you reach age 72. (
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April 10: |
Employees who work for tips. If you received $20 or more in tips during March, report them to your employer. You can use Form 4070. (
irs.gov )
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April 18: |
Individuals. File a 2022 Form 1040 or Form 1040-SR and pay any tax due. If you want an automatic 6-month extension of time to file the return, file Form 4868 and pay what you estimate you owe in tax to avoid penalties and interest. For more information, see Form 4868. Then, file Form 1040 or Form 1040-SR by October 16.
If you’re not paying your 2023 income tax through withholding (or won't pay in enough tax during the year that way), pay the first installment of your 2023 estimated tax. Use Form 1040-ES. For more information, see Pub. 505. (
irs.gov )
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Household employers. If you paid cash wages of $2,400 or more in 2022 to a household employee, you must file Schedule H (Form 1040), Household Employment Taxes. If you’re required to file a federal income tax return (Form 1040 or Form 1040-SR), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2021 or 2022 to household employees. Also, report any income tax you withheld for your household employees. For more information, see Pub. 926. (
irs.gov )
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Corporations. File a 2022 calendar year
income tax return (Form 1120) and pay any
tax due. If you want an automatic 6-month
extension of time to file the return, file Form
7004 and deposit what you estimate you owe
in taxes.
Deposit the first installment of estimated income
tax for 2023. (
irs.gov )
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Deadline to make IRA and HSA contributions for 2022 tax year. For individual income tax return filers, this also marks the final day to make contributions to your IRA or HSA for the 2022 tax year. After this date, you generally can’t make contributions for the previous tax year. (
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First quarter 2023 estimated tax payment due. Making estimated tax payments means that you need to estimate how much income you’re likely to make for the year and determine how much you will owe to the IRS for income taxes. You can use IRS Form 1040-ES to calculate how much tax liability you'll have for the year. IRS Publication 505 contains all the rules and details you might need to know about how to calculate this amount. If you overestimated how much tax liability you’d owe for a year and are due a refund, you can choose to receive that money now or apply the overage to the following year’s quarterly tax payments. (
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May 10: |
Employees who work for tips. If you received $20 or more in tips during April, report them to your employer. You can use Form 4070. (
irs.gov )
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June 12: |
Employees who work for tips. If you received $20 or more in tips during May, report them to your employer. You can use Form 4070. (
irs.gov )
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June 15: |
Individuals. If you’re a U.S. citizen or resident alien living and working (or on military duty) outside the United States and Puerto Rico, file Form 1040 or Form 1040-SR and pay any tax, interest, and penalties due. Otherwise, see Individuals under April 18, earlier. If you want additional time to file your return, file Form 4868 to obtain 4 additional months to file and pay what you estimate you owe in tax to avoid penalties and interest. Then, file Form 1040 or Form 1040-SR by October 16.
However, if you’re a participant in a combat zone, you may be able to further extend the filing deadline. See Pub. 3, Armed Forces' Tax Guide. (
irs.gov )
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Individuals. Make a payment of your 2023 estimated tax if you’re not paying your income tax for the year through withholding (or won't pay in enough tax that way). Use Form 1040-ES. This is the second installment date for estimated tax in 2023. For more information, see Pub. 505. (
irs.gov )
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Corporations. Deposit the second installment of estimated income tax for 2023. |
Second quarter 2023 estimated tax payment due. Despite the IRS referring to these payments as quarterly estimated taxes, the due dates don’t necessarily fall within “quarters” nor do they each represent three months of tax payments. They represent an equal quarterly share of your estimated income tax liability paid at uneven intervals. The first payment occurs 3 and a half months into the year. The second payment is five and a half months; the third payment is eight and a half months, and the fourth payment is due 12 and a half months after the year starts. (
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