Why is Tax Day On April 18 This Year?
Ordinarily, your federal (and most state) income tax returns are due by April 15. If you’ve been delaying doing your taxes, you’re in luck this year because your federal income tax returns aren’t due until Monday, April 18, 2016. Let’s dive into the reasons why Tax Day is on April 18 this year and how that may impact your returns.
The reason why Tax Day is on April 18 this year is because of Emancipation Day, which is recognized as an official public holiday in Washington, D.C. Emancipation Day is usually celebrated on April 16 but because that falls on a weekend this year, it is celebrated on the closest week day, April 15. All federal offices, including the IRS, will be closed on April 15 because of this holiday.
What is Emancipation Day, you ask? It is the anniversary of the day President Abraham Lincoln ended slavery in Washington, D.C. by signing the District of Columbia Compensated Emancipation Act in 1862.
If you live in Massachusetts or Maine, you have even more time to file your federal returns. Residents of these states have until April 19 to file their returns because both states observe Patriot’s Day on April 18. What is Patriot’s Day? It’s a state holiday that commemorates the battles of Lexington and Concord in 1775, which are the first battles of the Revolutionary War.
Those extra days can come in handy if you’ve been putting off your tax returns. More than half of taxpayers hire somebody to prepare their returns and if you’re one of them, this post can help you find a tax professional that is best suited for your needs.
One final note for self-employed workers on tax deadlines: no matter what state you live in, the due date to make your April 2016 estimated tax payment is April 18, 2016.
(photo credit: lendingmemo)
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