March 2023 Tax Tips

Welcome to the lion’s share of tax filing season.

Regardless of which animal persona March dons to arrive, this month is roaring with tax activity.

It’s the last full month of the annual high tax season, which runs from late January through Tax Day, which this year is Tuesday, April 18. The extra days are thanks to the regular 4/15 date falling this year on Saturday, and the next business day, Monday, April 17, is Emancipation Day.

The extra time to complete our 1040s and, if we owe, come up with the money due Uncle Sam is always welcome. But wise taxpayers know better than to wait until the last minute. That’s why millions get to work on their returns every March.

This month’s tax tips, which are collected on this page after they have their featured time in the spotlight in the ol’ blog’s upper right corner, can help, whether you’re a tax filing lion or lamb.

All of the tips will be collected here, after they have their featured time in the spotlight in the ol’ blog’s upper right corner. The tax tidbits can help all y’all tax lions aggressively hunting tax breaks, or timid tax lambs, who’ll want to come back here (and the January and February pages, too!) once ewe (sorry, I couldn’t resist) finally muster the courage to confront filing.

The tax tips also can help those who, in keeping (sort of) with the animal theme, connect with the Chinese New Year’s speedy rabbit representation and have already filed. Some of the advice will help with 2023 taxes that started running when the Gregorian calendar‘s starting page was turned back in January.

Regardless of the type of tax creature that exemplifies your filing style, check them out to make sure you don’t overpay either your 2022 or 2023 taxes.

Since I know you’re raring (and, for many, roaring) to get at the advice, here are March’s tax tips.

1. Retirement tax moves to make by Tax Day — In most cases, once the new tax year starts, it’s too late to do anything to reduce the prior year’s tax bill. But there are some exceptions, particularly when it comes to tax-favored retirement accounts. With around six weeks left until Tax Day 2023, now’s the time to make some tax moves that could pay off when you file your taxes, and also when you retire. (March 1, 2023)
2. VITA and TCE sites offer free tax help — If you want more than tax software, but can’t afford to hire a tax professional, check out Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE). These IRS-sanctioned, volunteer-staffed programs can help eligible taxpayers prepare and e-file their returns for free. (March 2, 2023)
3. Decoding your W-2 — If, like most taxpayers, you have a salaried job, you need your W-2 wage statement to file your tax return. But this document also has lots of information in addition to how much you made and how much in various taxes you paid last year. Here’s how to make sense of all those boxes on your W-2. (March 3, 2023)
4. How to file without a W-2 — If you haven’t received all your tax statements by now, you’re right to be upset. They’re more than a month late. Here’s what you can do to get this crucial tax filing data so that you can finish your Form 1040. (March 4, 2023)
5. Tracking down your tax refund — Most taxpayers, as soon as they file their annual returns, ask the same question: When will I get my tax refund? You can find the answer by using the Internal Revenue Service’s Where’s My Refund? online tracking tool. (March 5, 2023)
6. IRS TAC walk-ins welcome on Saturday, 3/10 — Need some in-person tax help? Round 2 of the Internal Revenue Service’s Taxpayer Assistance Center Saturday openings is this weekend, March 11. Taxpayers who can’t make a weekday appointment at a TAC can walk-in to the open facilities — this time in 32 states, Washington, D.C. and Puerto Rico — from 9 a.m. to 4 p.m. local time. No appointments needed. (March 9, 2023)
7. Taxes get their due in Oscar-nominated film — OK, not so much a tax tip, as a tip about a tax movie. “Everything Everywhere All at Once,” a movie that’s already won buttload of awards, including for its stars and directors (yes, plural), could take the top Academy Award prize, best picture. And it’s centered around an Internal Revenue Service audit. Art imitating life — sort of; OK, not in the multiverse way, but… — in this zany movie. (March 12, 2023)
8. Child care credit smaller, but still helpful — Parents got a bigger tax benefit for child care costs last year to help ease some COVID-related financial stress. Those enhancements are gone for 2022 tax returns, but the tax credit still can help working parents cover child (and other dependents’) care costs. (March 13, 2023)
9. Tax filing resources for U.S. service members — Being in the military is stressful enough, but the special tax considerations of service personnel can add anxiety at return filing time. Here are some tax tips and resources for U.S. armed forces members to help them make it through the filing season. (March 16, 2023)
10. Ways to pay your tax bill — The Internal Revenue Service still accepts paper tax payments, like checks and money orders. However, it prefers that we use one of these 6 e-payment options to settle our tax liability. (March 19, 2023)
11. 10 common tax filing mistakes to avoid — To err is human. To err when doing your taxes also is all too common. And potentially costly. Here are 10 tax errors to watch out for and avoid. (March 22, 2023)
12. 10 often overlooked tax breaks — Are you still searching for tax write-offs? Here are 10 deductions and credits, including some that don’t require itemizing, that too many taxpayers overlook every filing season. Missing them could be costly. (March 24, 2023)
13. April 1 is RMD deadline for some. No fooling — Recent retirement law changes have made many changes to how taxes affect our nest eggs, but one remains. The April 1 required minimum distribution (RMD) deadline is still available for those septuagenarians facing their first required withdrawal. (March 27, 2023)
14. Don’t fall for these federal tax refund myths — You’re getting a tax refund, so you filed early. And you’re still waiting. Your frustration is understandable, but don’t let it lead to you falling for these tax refund myths. They won’t do anything to get you your cash sooner. (March 31, 2023)

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I know, you want all the tax tips. Now. Despite the clover patch above, which might contain a few four-leaf ones, good luck with that.

Yes, you can click on April through December links below. They are live. But they don’t have any tips yet because, well, those months aren’t here yet.

Instead, you’ll be greeted by an animated nay-saying fellow making good use of one of my favorite Texas sayings. Helpful Internal Revenue Service and tax code tips will replace that fun and folksy GIF as the months arrive.

So come back for those months of tax advice once Father Time finally does his thing.

Don’t worry. The new months and tax tips will be here before you know it, and for many of us, before we’re ready to file our 1040s! Time really does fly when you’re having tax fun.

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