September brings two autumnal arrivals, along with lots of tax tasks.
After this summer's heat wave — it was the hottest summer on record here in Austin, as well the Texas capital's driest in 113 years — I am definitely ready for September and its promise (hope) of cooler temperatures.
Unfortunately, that's not happening here, at least not early this month. Despite the arrival on Sept. 1 of Meteorological Fall, it looks like we won't get any substantially cooler temperatures until the Autumnal Equinox on Sept. 23.
However, one thing we can count on this month is tax tasks to take care of as we move into Fall.
Some filing to be done: Most taxpayers take care of their federal tax payments via payroll withholding.
Some of us, though, also have to make estimated tax payments. The third one for 2023, covering earnings in June, July, and August that weren't subject to withholding, is due Sept. 15. A few filers get more time to make this 1040-ES payment because they live in places that were hit by major disasters. More on this in a minute.
Then there are the usual tax procrastinators who earlier this year got an extension until Oct. 16 to file their 2022 tax returns.
Even though this year they have an extra day since the regular 10/15 deadline is on Sunday, there's no need to wait until the last minute (again). The Internal Revenue Service will gladly take your 1040 in September.
Disasters looming: The Atlantic/Gulf of Mexico hurricane season has been a bit wonky this year. Tropical Storm Hilary, which days before making landfall on Aug. 20 in Baja California had been a category 4 'cane. Still, she prompted the Golden State's first tropical storm watch on record, and major highways closed due to flooding and rockslides.
Ten days later and all the way across the country, Hurricane Idalia came ashore in Florida's Big Bend and then moving into Georgia and South Carolina.
And we can't forget about the deadly Hawai'ian wildfires.
The point is that major disasters can happen anywhere, at any time. If you haven't prepared for the catastrophe that's most likely to befall your location, do so. Now. And remember that you might be able to get some tax help afterwards.
Tax planning, too: Finally, as we move deeper into the latter part of the year, we all need to look into moves we can make in the next few months to lower our 2023 tax liability.
You'll find some ideas on how to do that here on this September tax tips page. The seasonal pieces of tax advice will be added as soon as they are highlighted, as is the standard practice, in the upper right corner of the ol' blog.
And don't worry if you miss one on its featured day. Whether you're working on your extended 2022 Form 1040 or taking tax steps to lower what you must pay Uncle Sam when you file your 2023 return next year, this month's tax tips below will be here to help.
- New state tax laws in New York, Texas take effect on Sept. 1 — Most states operate on fiscal years that start July 1. That's why some of their new laws take effect on that date. Others changes, however, kick in on Jan. 1, making it easier on residents. But a couple of notable tax changes took effect this year on Sept. 1. New York now has a new, higher cigarette excise tax. Texas' new $200 annual electric vehicle registration fee also started today. You always can check with your state tax department for any new laws and their effective date. (Sept. 1, 2023)
- Labor Day salute to entrepreneurs — Many workers get Labor Day off, but those who are their own bosses typically don't. Being a business owner is a lot of work, usually 24/7, 365 days a year. This Labor Day, we salute their entrepreneurial spirit and offer some tax tips for these bosses. (Sept. 4, 2023)
- September tax moves — It's still pretty darn hot across much of the United States, but September brings us hope for a cooler season. It also brings us a good time of the year to take care of some tax tasks. Here are four tax moves to make this month. (Sept. 5, 2023)
- Idalia damage prompts Florida, South Carolina tax relief — The IRS has granted most Florida and all South Carolina taxpayers get more time — until Feb. 15, 2024 — to take care of some tax tasks. The reason? They were pummeled by Hurricane-turned-Tropical-Storm Idalia late last month. (Sept. 8, 2023)
- Estimated tax deadline is Sept. 15 — The third estimated tax payment for tax year 2023 is Friday, Sept. 15. That means it's time for folks who had side hustle income or other earnings not subject to payroll withholding to send the Internal Revenue Service their latest 1040-ES, or more likely, pay electronically. (Sept. 11, 2023)
- Estimated tax time for most, but not all — Today, Friday, Sept. 15, is the deadline for most estimated tax payers to make 2023's third estimated tax payment, unless you live in one of 10 states where tax relief has been granted because of a major natural disaster. (Sept. 15, 2023)
- ERC audit tips — Yes, you saw this back in June, but with the IRS placing a moratorium, effective Sept. 14, on Employee Retention Credit (ERC) claims, it's worth a re-run. The reason? Because the IRS also is stepping up its examination of ERC claims, particularly recent ones where aggressive promoters pressured companies to claim this COVID-pandemic-era tax break. If your claim results in an audit, these ERC audit tips could help. (Sept. 16, 2023)
- Tax tips for divorcing couples — Marriage can be challenging. When it gets to be too much, and couples decide to divorce, there are tax matters that must be considered. (Sept. 21, 2023)
- Tax tips for newlyweds — Everyone loves love! Even the tax man. If you and your beloved have or will tie the knot, here are some tax to-do's to take care of after you say "I do." And, of course, after the honeymoon! (Sept. 25, 2023)
- The many versions of IRS Form 1099 — The recent reminder that 1099-K forms will be going out next January for smaller (just $600) transaction amounts makes it prime time to examine the many other variations of 1099 forms. (Sept. 29, 2023)
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Looking for more tax tidbits? All the monthly tax tip page links below are live. If, however, you click on one in the last quarter of the year, you'll be greeted by a fun GIF of a man enthusiastically telling us to slow down, or Whoa Up! as we say here in Texas.
I know you want to see him, so go ahead and click on October through December. I promise that timely tax info will replace that animated fellow when the calendar finally flips to those remaining 202w months.
You also might want to click on the January through August tips pages, too, especially if you're still working on your extended 2022 tax return. Of if you have some time to kill after you've finished raking all the fall leaves in your yard.
| January | July |
| February | August |
| March | September |
| April | October |
| May | November |
| June | December |
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