Don't Forget: Taxes Are Due Monday

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Procrastinators rejoice! You still have three more days to queue up at your local post office and send in your taxes.

The Internal Revenue Service announced that the initial deadline for filing your 2010 Form 1040 (or 1040A) is April 18 – not April 15. Today is Emancipation Day, a holiday in the District of Columbia, which falls on Saturday but is being observed today.

Under federal law, filing and payment deadlines that fall on a Saturday, Sunday or legal holiday are met on the next business day. Even though Emancipation Day is a legal holiday only in the nation’s capital, holidays observed in the District of Columbia have a nationwide impact on federal tax issues.

Monday will be the filing deadline for:

•    2010 federal individual income tax returns, whether done electronically or manually.

•    Requests for an automatic six-month extension, whether made electronically or with Form 4868.

•    Tax year 2010 balance due payments, whether made electronically (direct debit or credit card) or by check.

•    Tax year 2010 contributions to a Roth or traditional IRA.

•    Individual estimated tax payments for the first quarter of 2011, whether made electronically or by check.

•    Individual refund claims for tax year 2007, where the regular three-year statute of limitations is expiring.

The deadline for filing extended returns remains October 15, 2011.

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