Attention, busy parents: if you are the last minute type, you’ll have an extra weekend to file your taxes. The Internal Revenue Service has officially given us until April 18th to file our income taxes this year.
The additional days have been given as a result of a scarcely known Washington, D.C. holiday. The day itself celebrates the freeing of slaves in the district. This year, Emancipation Day falls on Sat., April 16, but it is observed in D.C. on Fri., April 15, which caused the Internal Revenue Service to extend the tax filing deadline to April 18 this year.
According to the tax code, filing deadlines cannot fall on Saturdays, Sundays or holidays.
Even if you have already gathered all your papers and are ready to spend the weekend digging into the tax forms or heading off to the accountant, you might want to consider what new tax rues apply to you as a parent this year.
The child tax credit is one of the tax rules which might be overlooked but comes in very handy to growing families. Maybe you’ve had a new baby or used child care. Perhaps your older children have gone off to college or you’ve gone back to take some classes yourself. There are so many circumstances which can change the way you file from year to year.
If you are really swamped and there is no way you will be able to get your filing done by Monday, you also have up until April 18th to file for an extension.