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September 2023 Tax Tips

September brings two autumnal arrivals, along with lots of tax tasks.

Tax tip pencilAfter 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.

  1. 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)
  2. 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)
  3. 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)
  4. 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)
  5. 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)
  6. 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)
  7. 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)
  8. 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)
  9. 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)
  10. 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)

*****

Multicolored fall leaves on blue boardwalk

*****

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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Today's Tax Tip

  • Tax penalties could add to your IRS bill — No one likes to pay the Internal Revenue Service more than necessary, but that happens when you're hit with tax penalties. So take your taxes seriously, especially when it comes to filing and paying on time, or you could end up owing Uncle Sam more due to these add-ons. Some tax penalties are set, but others face changes every year due to inflation. Here's a look at what's ahead on the tax penalty front in 2024. (Nov. 25, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
    Open sign
    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.
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Tick ... Tick ... Tick

  • It's the final
    2023 tax countdown!


    It's over! We cleared 2023's extended filing deadline, unless you get more time because your filing was affected by a major natural disaster, military service, or some other Internal Revenue Service recognized special situation. If that's you, be sure to check out all the ol' blog's earlier Tax Tips, listed by month just under the old-school No. 2 yellow pencil tip atop this column.

    For most of us, though, the passage of Oct. 16 means it's time to focus on the Form 1040 that we'll file next year. In most cases, we have until Dec. 31 to make moves that will reduce our still accruing 2023 tax bill.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care of in each of these final 2½ months of 2023.
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Ho 🎅 Ho 🎅 Ho!
    December is here!

    You better watch out. You better not cry. But you better make some year-end tax moves this December or next April 15 could turn out to be the tax equivalent of Santa Claus putting coal in your stocking.

    Santa Claus is watching YOU!
    Click image to hear a musical Santa message from Bruce Springsteen.

    St. Nick can't deliver a festively wrapped, already prepared tax return for you (unless he's even more magical than I think!) to file next year, but he does have a tax connection. Santa's tracking of naughty and nice boys and girls basically is the same method that the Internal Revenue Service uses. That's why we all need to be nice, especially to ourselves, in this final month of the year by making some important tax-saving moves. Let's get to it!

  • Dec. 1: This last filing season was more-or-less back to pre-COVID-19 pandemic normal, but if your own personal filing circumstances remained a mess, it's time to act. Maybe you realized you need professional tax help. If so, now is the time to find a tax preparer who can help ensure your return filing next year goes more smoothly. You have lots of options.There's also a December bonus. If you hire a tax pro this month, you might get some year-end tax tips!

    Dec. 4: Are you taking on a variety of gig work to make some extra holiday cash? Those added jobs mean you're an independent contractor. And that means you're responsible for paying income taxes due on the money, as well as any self-employment tax. Now is the time to start gathering those records and tallying this taxable income so you're not surprised at filing time.

    Dec. 11: If your job, over the holidays or full-time, is as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation, I hope you get extra seasonal financial thanks this month for doing your job well. Remember, though, that those tips are taxable income

    restaurant check tip iStock
    Whether you're dining at your favorite eatery, or during the coronavirus pandemic discovered you really like getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    And if you got at least $20 in gratuities in November for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.

    Dec. 15: Christmas is just 10 days away! If you're still shopping for gifts, you're probably searching for the perfect present online. But beware and be wary. Internet crooks also are logged on, looking to steal your money and identity, using many of the techniques they employ in tax scams. Any personal information they get now can be used at tax time to file a fake return in your name and claim a fraudulent refund. So be careful out there, now and next filing season, and, well, unfortunately all the time.

    Dec. 18: Many of us are trying to concentrate this final work week before Christmas. As far as taxes go, it's a good time to revisit your estimated tax situation, especially if you got some money from those previously mentioned gigs. Since these amounts typically aren't subject to withholding, you'll need account for the December earnings in your January 2024 final 1040-ES amount for 2023.
    Better to know that amount now, than on Jan. 16's due date.

    Dec. 22: It's Christmas Weekend! That means holiday treats, final decorations — or first, if you wait until the very end to get a tree — and frantic last-minute shopping! Rather than worry about how you'll get the perfect gift under the tree on time, consider instead some easy tax-favored gifts. Open a Roth IRA for your child or grandchild who earned some money this year. Or pay tuition for classes that will start in the first quarter of 2024 by Dec. 31. Those college costs then can be used to claim the American Opportunity Tax Credit.

    Dec. 24: Christmas Eve!
    No taxes tonight. It's early to bed for kiddies of all ages. Santa's on his way!

    Santa Claus is on his way!
    Click image to watch
    Santa's delivery route as tracked by NORAD.


    Dec. 25: Merry Christmas! My gift to you is another day without tax thoughts.
    Just enjoy the holiday and your family and friends.

    Dec. 26: Happy Boxing Day. This unofficial holiday on St. Stephen's Day is celebrated by additional giving.
    If you donate to your favorite charity on this Boxing Day or any other day by Dec. 31, on your 2023 taxes you'll have to itemize your gifts on Schedule A to claim them. The option to claim a limited amount directly on your Form 1040 expired at the end of 2021. What didn't expire is the IRS' tax donation deduction rules.

    Dec. 31: This is it. The drop-dead deadline to make most 2022 tax moves. A quick and easy action today is to zero out your medical flexible spending account (FSA) by buying over-the-counter medications for which the funds can be used. This is especially important if your employer doesn't offer a grace period to use the money or let you roll it over into 2024. Without those alternatives, you'll lose any FSA funds you don't use.

    Done? Great! Make sure the champagne is chilling and settle in for your New Year's Eve party or a cozy night at home with your friends and loved ones. Either way, cheers and Auld Lang Syne as the ball drops at midnight.

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

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  • Tax Reading Room

    You also might enjoy these other tax tips from some of my tax-writing colleagues:

  • JK Lasser 2023 Taxes
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  • AKA Disclaimer:
    I am a professional journalist who has been covering tax issues since 1999.
    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These five Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020
    August-December 2020
    January-December 2021
    January-December 2022
    …and so it continues into 2023
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    Need help finding a coronavirus vaccine in the United States?
    Call 1-800-232-0233
    or TTY 1-888-720-7489.
    More information and resources at:
    CDC Vaccines
    CDC Booster Shots
    HHS Combat COVID
    USA.Gov COVID Info

December 2023

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  • Christmas presents phot by Isaac Martin on Unsplash
    Photo by Isaac Martin on Unsplash


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Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.
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