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Two Bonus Days for Tax Procrastinators

Posted by Barbara Fordyce on

This year, April 15 falls on a Sunday. and thus the tax deadline would normally be moved to the next Monday, April 16 — except that's Emancipation Day. The Emancipation Day holiday is celebrated in Washington DC, so the IRS is closed on Monday. Thus, the tax-filing deadline is shifted one more day ahead, to Tuesday, April 17, giving tax procrastinators 2 extra days.

Just be sure you don't miss the deadline.  No matter your circumstances, all the tax experts advise filing on time. 

If the IRS owes you money, filing is the only way to get it.

If you owe taxes, and can't pay, it's still to your benefit to file.  IRS says the failure-to-file penalty is higher than the failure-to-pay.  You can file for an extension that will give you until October 15 to file your actual tax return. However, it doesn't give you a break on paying your taxes, which you need to estimate and pay. Get more info at the IRS.

Maybe you already filed, and you don't have to spend the weekend doing your taxes.  Nice!

But if you want more background on taxes, check out these maps and articles, which could help you plan for next year.

Informative Tax Maps

Kiplinger developed an interactive map you can use to assess the relative tax climate across the country. Click on any state for a detailed summary of state taxes on income, property, and everything you buy.

For many people, state and local property taxes are a bigger issue than federal taxes.  The Tax Foundation tackled this subject and produced an informative map on property taxes.

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