Tax issues can be so complicated and tedious that the State prefers to gather all tax filings by certain dates. Otherwise, it could be a total disaster.
And although taxes are handled federally, each State can set certain laws and convenient dates for itself. Such is the case in North Carolina, where the dates for the season were not as expected this year.
When does tax season start in North Carolina?
Tax returns have a specific date for each year within which they will be accepted without being considered late. When the period starts, tax season is considered to have begun.
Therefore, when North Carolina begins accepting tax returns is when the tax season begins for that year.
In the current tax year’s season, tax returns from the previous year are accepted. In other words, when the 2022 tax season begins, you must file your taxes for 2021.
This tax year’s season in North Carolina began on March 1, drawing national attention because other states filed on January 24.
When does this tax year’s season end?
This tax year’s season ended on Friday, April 15. Due to Emancipation Day, returns were delayed until April 18, the same as for the rest of the country.
Under normal conditions, you could only have filed your returns on or before April 15 to be considered on time, but if you were a little late and filed on or before April 18, your return was on time.
There was an estimated extension of tax filing for the mid-October filing dates, specifically before October 17, and it was a nationwide measure. But, there is still no further information about it.
Why was there a delay in the season?
As we mentioned in the first section, in the rest of the country, the season started on January 24, 2022. That should have been the date used to start statements in North Carolina, but surprisingly, it began in March.
The State of North Carolina made statements and explained that the delay was due to a set back in the approval of the state budget to process declarations.
In addition, the change in different tax law legislations completely affected the management of the tax software. Therefore, starting at par with the rest of the country was impossible until all the necessary updates were completed.
When does the North Carolina tax season start in 2023?
As of now, knowing when the North Carolina tax season begins in 2023 is an impossible task. One must always wait for IRS returns to see when the season will begin.
If there are no mishaps in 2023, the season in North Carolina should start on par with the rest of the country. We have to wait for it to be announced.
What to do if I did not file my returns on time?
If you filed your taxes late and could not file them within the required dates, it is considered late and is fully punishable. The penalties can be quite high.
The amount of fines and penalties varies according to the length of the delay. The longer the delay, the more serious the penalties will be, and interest will continue to accrue. Therefore, waiting for next year’s tax returns is not the best option.
If you are late in your tax returns, the best thing is to cancel them as soon as possible to avoid more fines and an increase in interest because they can be quite high amounts.
Even if you do not have all the money to pay your taxes, you can start, on the one hand, and get advice from an IRS representative to help you set up a payment plan that is more comfortable for you.
The worst thing you can do in these cases is to ignore the situation and wait. The problem will only escalate until the IRS begins to take matters into their own hands, even going so far as to embargo your wages and belongings.