April 15 No Longer the IRS Filing Deadline

Last-minute taxpayers don't have to rush to file  federal income taxes by Friday April 15 this year.

The Internal Revenue Service announced back in January that taxpayers have until April 18 to file their tax returns.

Why do you have a chance to work on your taxes through the weekend?  Because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15.

By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have three extra days to file this year, according to the IRS website. Taxpayers requesting an extension will have until Oct. 17 to file their 2010 tax returns.

The IRS expects to receive more than 140 million individual tax returns this year, with most of those being filed by the April 18 deadline. The IRS reminded taxpayers  that using e-file is the best way to ensure accurate tax returns and get faster refunds.

More good news from the IRS: Once taxpayers file their federal return, they can track the status of their refunds by using the “Where's My Refund?” tool, located on the front page of www.IRS.gov. Taxpayers can generally get information about their refunds 72 hours after the IRS acknowledges receipt of their e-filed returns, or three to four weeks after mailing a paper return, according to the IRS website.

Taxpayers need to provide the following information from their tax returns: (1) Social Security Number or Individual Taxpayer Identification Number, (2) filing status, and (3) the exact whole dollar amount of your anticipated refund. If the U.S. Postal Service returns the taxpayer’s refund to the IRS, the individual may be able to use “Where’s My Refund?” to change the address the IRS has on file, online, according to the IRS.

Here's where the money comes from: Summary of Collections Before Refunds by Type of Return, FY 2009

Individual income tax

144,103,375

1,175,422

Corporation income tax

2,475,785 [2]

225,482

Employment taxes

30,223,289

 858,164

Excise taxes 

809,461

46,632

Gift tax 

245,262

3,094

Estate tax 

47,320

21,583