This means that public employees such as those that work for the IRS will have April 15 off of work, and so it pushes the tax deadline to April 18, a Monday, which is the next business day.
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Usually Emancipation Day, an annual holiday in Washington, D.C., commemorating Lincoln’s freeing of the slaves in the nation’s capital, is celebrated April 16.
This year, the 16th of April falls on a Saturday, during the weekend when the district is closed anyway.
“The IRS allows tax extensions to give taxpayer more time to collect all their information”, said Barron Barnes, a CPA and partner with Capital Accounting and Tax”.
U.S. Senator Charles E. Schumer today revealed that, based on data from the Internal Revenue Service (IRS), approximately 57,600 New Yorkers, including more than 24,000 Upstate New Yorkers, across the state still qualify 2012 tax refunds, with an average potential refund of $796. And if you’re in ME or MA, you’ll have until the 19th, because those states celebrate Patriots Day on the 18th.
Many tax software companies began accepting tax returns earlier in January and submitting them to the IRS when processing systems opened.
Much like the late payment penalty, you can avoid the minimum penalty by showing the IRS that you have a reasonable cause for filing after the due date. The IRS began accepting individual electronic tax returns on January 19.
But, did you know that January 15 is the deadline for self-employed workers and others who pay quarterly taxes? If you owe tax, you can request an extension when you make a payment.
“You’re drawing attention to your return”, he said, “and that’s the last thing you want to do”. If you go that route, you don’t have to file a separate extension form and instead will receive a confirmation number for your records.
Taxpayers who can not pay the full amount of tax owed should try other options to pay, such as getting a loan or paying by debit or credit card.
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The bill was offered days before the tax filing due date. If insurance was available to you and you declined to enroll in it for the entire year, you could pay a tax penalty of either 2 percent of your household income or $325 per adult and $162.50 per child.
