“When is Tax Day?” If you’ve recently asked yourself or a friend this question, you’re going to want to keep reading.
Prepare yourself, procrastinators, because your taxes must filed by Tuesday, April 18. If that sounds not quite right, it's because Tax Day usually falls on April 15, which happens to be a Saturday this year. Go ahead and brush the sweat off your brow.
The extra days, though? No, they’re not the government taking pity on us all. For that, you can thank the municipality of Washington, D.C. The District of Columbia celebrates Emancipation Day, which marks the signing of the Compensated Emancipation Act in 1862, on April 16. Since that falls on a Sunday this year, the federal holiday is observed the following weekday: Monday, April 17.
Let us summarize that for you: Lazy tax filers lucked out this year. Cue collective sigh.
Despite the looming deadline, do your due diligence. Rushing through your taxes can make you skip over important changes from your previous year’s return and as a result, miss out on potential deductions. If Uncle Sam owes you money, make sure you get all of it back. Be sure to also check that your W-2 and Form 1099s are correct; just because your employer provides them doesn’t mean the forms are accurate. If you can’t get everything ready in time, just be sure to file for an extension, which buys you six extra months to wrangle your return.
Filing a tax extension
Make sure you’re clear from the start: Filing an extension does not grant you extra time to pay your taxes. The government still wants its money, honey. Getting this small reprieve will push that dreaded due date to Oct. 18. Individuals filing for an extension need to fill out a Form 4868 by April 18, but you can e-file your extension form for free online. There are some special exceptions for those serving in a combat zone or living outside the United States, so be sure to check with the IRS for more details on filing for an extension.