June 2023 Tax Tips

December 25, 2022

Summer’s arrival brings longer days and plenty of tax tasks.

Ah, June. We’ve been waiting for you!

Can you believe summer is almost here? Can you believe school is out? Can you also believe that you need to make tax moves during this traditional vacation time?

Well, believe it. You do.

More Tax Days: In keeping with the Gemini astrological sign that dominates two-thirds of June, this month means dual tax responsibilities for many taxpayers.

June is home to Tax Day. Really. This time it’s on June 15 and is the filing deadline for U.S. citizens or resident aliens living and working abroad. This includes military personnel stationed outside the United States.

That same mid-June day is also the deadline for the second estimated tax payment for the 2023 tax year.

And then there are the millions who filed extensions so they didn’t have to worry about the first Tax Day on April 18. Some of them are looking to be done with those filings so they can enjoy their summer.

By now, though, most taxpayers are focusing on the current tax year. Their goal is to find ways to cut the amount for the 2023 tax year that they must pay the U.S. Treasury next filing season.

These multiple tax approaches are reflected in June’s tax tips. There will be pieces of filing advice for those still working on 2022 returns, along with tax planning moves for 2023 taxes.

Plus, we’ll look at how taxes affect some of this month’s traditions, such as celebrations of fatherhood, loving couples trading wedding vows, and welcoming the summer solstice lauded at the start of this post.

Whatever your tax status, filing due date, or plans for this first month of summer, do take some time during June to take care of tax tasks. You’ll thank yourself next filing season.

Now, so as not to cut into your summer fun any longer, here are the June tax tips. Before they arrive on this consolidated monthly page, you’ll find them highlighted in the upper right corner of the ol’ blog.

Hurricane prep for those who are older, have special needs — Hurricane season 2023 was officially ushered in on June 1 with the formation of Tropical Storm Arlene in the Gulf of Mexico. She didn’t pose any major threat to those along that coastline, but was a great reminder that it is time for all who live in possible landfall areas get ready. That’s especially true for older adults and those with special needs since they typically have more storm prep considerations. (June 1, 2023)
Take a pre-disaster inventory — We’re officially in hurricane season 2023, but in a bit of a lull now that Tropical Storm Arlene has fizzled. That gives us a window to prepare for the coming tropical systems. Part of that is taking a pre-disaster inventory of your household goods. It will help you with your insurance claims or, if the catastrophe is declared a major disaster, claim your uninsured losses as a tax deduction. (June 4, 2023)
June tax moves — June’s arrival means you’re making vacation plans. But you also need to work some tax tasks into your schedule this month. Here are five June tax moves to consider, along with the dates this month to which they apply. (June 5, 2023)
June 15 is Tax Day for U.S. taxpayers abroad — It’s Tax Day take two for Americans who live and work outside the United States and Puerto Rico. This mid-June automatically delayed due date also applies to members of the military who are posted outside the United States and its nearby island territory, and who don’t qualify for a longer combat zone extension. If these are your circumstances and you’ve put off filing, here are some last-minute tips to help you finish your Form 1040. If you need more assistance, the Internal Revenue Service also offers international taxpayers some help. And if you decide you need more time to finish your 2022 tax year return, you can get until Oct. 16 by filing for an extension. (June 7, 2023)
It’s estimated tax time again — No, you’re not in some tax time warp. June 15 is another Tax Day for millions of folks who get income that isn’t subject to withholding taxes. This mid-June deadline is for the second payment due on such income, like independent contractor and investment payments, received this April and May. You can get more scoop on estimated taxes and timetables in my estimated tax primer. Also check out my earlier estimated tax questions and answers, and my post on why, when, and how to pay estimated taxes. (June 9, 2023)
Ways to pay estimated taxes — Estimated taxes are due this week. The deadline for this second payment is Thursday, June 15, just in case you forgot. Here are some ways the IRS will let, and in some cases encourage, you pay 1040-ES amounts (June 13, 2023)
10 tax notice tips — The only thing worse than getting an Internal Revenue Service notice is getting an incorrect IRS notice. That happened recently to Californians in major disaster areas. Those errant Golden State mailings, however, do bring up a key point: Never ignore IRS correspondence. That could get you in more, and more costly, tax trouble. Following up on a notice also is one of 10 things to do when an envelope with an IRS return address shows up in your U.S. Postal Service box. (June 16, 2023)
Juneteenth: How federal holidays might affect taxes — Today is the third official nationwide recognition of the federal Juneteenth Holiday. Enjoy the day’s new status and the events commemorating the end of slavery in the United States. Then, when it’s time to think again about taxes, check out how legal holidays can affect your filings. (June 19, 2023)
Federal home energy tax credits can help fight the heat — The early summer heat wave just won’t let go. Maybe it’s time to take care of some energy sapping gaps in your house. Uncle Sam can help. He’s offering new, expanded tax credits for homeowners who make energy-efficient improvements to their residences. (June 24, 2023)
ERC audit tips — Many businesses that stayed open during the height of the coronavirus pandemic were able to do so thanks to the Employee Retention Credit (ERC). Some companies, however, subsequently filed for the 2020-2021 tax benefit at the urging of unscrupulous ERC promoters, and now are finding the IRS is looking into their claims. Here are some tips if your company is under ERC examination. (June 28, 2023)
Per-mile fees as fossil fuel tax replacements — States seeing traditional fossil fuel taxes decline are looking into alternate funding for transportation and infrastructure expenses. One option getting much attention is per-mile fees. Even Uncle Sam is interested. The Department of Transportation will soon launch a federal nationwide mileage tax pilot program. (June 30, 2023)

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Yes, you can click on any of the monthly links below, but unless we’re in that month, you’ll just be greeted (again) by that animated nay-saying guy’s GIF, instead of helpful Internal Revenue Service and tax code tips.

You can, however, check out the current or previous months’ pieces of tax advice if you’re still working on your 2022 return.

As for the last half of 2023’s tax tips, don’t worry. The new months and their tax advice will be here before you know it. For many of us, that will be before we’re ready to file our 1040s! Time really does fly when you’re having tax fun.

January	July
February	August
March	September
April	October
May	November
June	December