It’s April 15 – the most famous of all days in the American financial calendar. Federal taxes have been due on this date since 1955.
However, April 15 isn’t the tax deadline this year. In the observation of Emancipation Day in Washington, D.C., the IRS moved the deadline to Monday, April 18. That’s 3 extra days to file – but if that’s still not enough time? You can always file an extension.
An extension is basically your best guess at your taxes due, and a promise that you’ll file your complete return by mid-October. The traditional due date for extensions is Oct. 15, but this year, that’s a Saturday. So, for 2011, extensions are due Monday, Oct. 17.
You can file an extension with H&R Block At Home Online or Software, or at any H&R Block office. Like a normal tax return, your extension must be postmarked by April 18, or you’ll incur penalties. And, your payment is must be mailed by the tax due date, too.
That’s right – even if you file an extension, any and all tax you owe the IRS is still due on April 18. Otherwise? You’ll face penalties.
So, you’ve got the option of taking your time to complete your return. But when it comes to paying up? Sooner rather than later is the way to go.