Tax day is always April 15th of every year, but on those years that the deadline for filing your tax returns with the IRS falls on a weekend, you have until the following Monday to file. This year however, your 2011 tax return is due on April 17th…a Tuesday.
Federal law makes a provision for tax days that land on a federal holiday to be moved to the following weekday (much like the weekend rule). In this case, it is not a federal holiday, but a District of Columbia holiday (which are viewed as federal holidays in the case of the tax law). Emancipation Day marks the day in 1862 when Abraham Lincoln signed the Compensated Emancipation Act, a full nine months before the historic Emancipation Proclamation. This act freed some slaves in service in the District of Columbia and also compensated those that were freed. Emancipation Day is similar to Texas’ Juneteenth.
Will you be spending your weekend working feverishly to finalize your taxes? Just remember to file them on or before April 17th – and don’t forget to call your tax professional to see what tax advantages you might have to owning a home.
image courtesy of 401K
