Tax filing timeline pushed forward three days

Death and taxes are sure, however the tax filing deadline has changed a bit over the past few years. This year’s tax processing timeline moves from April 15 to April 18, because of the D.C. Holiday Emancipation Day. Emancipation Day frees up procrastinators to file after April 15, which is the official holiday observance day in 2011. This will help several individuals stay away from taking out a payday advance for income taxes for at least a few more days. Source of article – Tax filing deadline extended to April 18, 2011 by MoneyBlogNewz.

Timeline for taxes could be on Emancipation Day

Tax processing day won’t be the only thing that April 15 is known for at this point. Emancipation Day, which is observed in the District of Columbia on that date, is a celebration of freedom. Specifically, the legal holiday remembers President Abraham Lincoln’s signing of the Compensated Emancipation Act in 1862. About nine months later, the Emancipation Proclamation happened. This meant that 3,100 slaves within the District of Columbia were freed.

What is celebrated in D. C. will at this point be celebrated through the nation, claims the IRS, although Emancipation Day is only within the District of Columbia. Because of Patriots Day, D.C. and six other eastern states already changed the income tax filing deadline. While Emancipation Day was not initially planned to intersect with the national income tax filing timeline, the coincidence is welcome for procrastinators across the U.S.

Pay attention if you need to itemize

Because of the new tax laws that have gone into impact, the Internal Revenue Service accounts that its systems won’t be ready to accept itemized 2010 tax returns until at least mid-February. The IRS won't be ready for any person who wants to itemize write offs for a while. Any taxpayer using Schedule A might be very inconvenienced by this. This is for everyone who wants to itemize local and state sales income tax paid, education expenditures from Form 8917, medical expenses, charitable donations and mortgage interest.

The new tax laws information is accessible online. Just go to www.irs.gov.

Articles cited

MSNBC

msnbc.msn.com/id/40911406/ns/business-tax_tactics/

Today Show

lifeinc.todayshow.com/_news/2011/01/04/5759248-if-you-itemize-deductions-dont-file-that-tax-return-yet

What is Emancipation Day?

youtube.com/watch?v=OJWJ_43lgnQ