None of us were around at the time, but you can thank something that happened back in 1862 for an extension of filing your taxes this year.
The nation's capitol will celebrate the emancipation of slaves this spring and you'll get a few extra days to get your tax return to the Internal Revenue Service (IRS). While April 15th is usually the dreaded tax day, it will be a few days later this year. The IRS says you will have until midnight April 18th to file your 2010 tax returns.
The extra time comes in light of Emancipation Day, a holiday observed in the District of Columbia on the 15th. And that's not all. People who file exemptions will now have until October 17th to file, getting two extra days.
According to Wikipedia, The Emancipation Act was signed by President Abraham Lincoln in 1862. It freed about 3,100 slaves in D.C. In 2005, D.C.'s mayor signed a law, making Emancipation Day an official public holiday in the district.
This is not the first time Emancipation Day has impacted the tax deadline. It extended filing in 2006. It will delay the deadline again in 2012 as well.
The IRS expects to receive more than 140 million individual tax returns this year. They to remind you that e-filing is the best way to ensure accurate tax returns and get faster refunds. Make sure you report any foreign accounts as well to avoid stiff penalties.
"The IRS has made important strides at stopping tax avoidance using offshore accounts," said IRS Commissioner Doug Shulman. "We continue to focus on offshore tax compliance and people with offshore accounts need to pay taxes on income from those accounts."
For information on filing your taxes, click here.
Check with your tax preparer with any questions you might have.
Will you take advantage of the three-day extension will you get your taxes filed by the 15th? Do you think the entire country should get extra time because of a local D.C. Law? Leave your thoughts below.
