Friday, January 7, 2011

Tax day extended to April 18th


You get three extra days to file your taxes this year. They'll be due on Monday April 18.
But it's not because of a previously announced processing delay that will prevent people who itemize their taxes from filing before mid- to late February.  Instead, the bonus days come thanks to Emancipation Day, a little-known Washington, D.C., holiday that celebrates the freeing of slaves in the district.
Emancipation Day falls on Saturday April 16, but it is observed in D.C. on Friday April 15. That prompted the IRS to extend the tax filing deadline to April 18 this year. Under the tax code, filing deadlines can't fall on Saturdays, Sundays or holidays.
But don't expect a separate -- or longer -- extension to make up for the IRS's processing delay.
The delay -- caused by Congress waiting until late December to pass new tax policies -- means that the 50 million taxpayers who itemize their taxes on a Schedule A form can't file until February.However, the IRS estimates that less than 9 million taxpayers will end up being impacted by the delay, based on historical filing patterns.

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