More Time … More Pain!
[By Staff Reporters]
You get three extra days to file your taxes this year. They’ll be due this Monday, April 18th.
But, it’s not because of a previously announced processing delay that will prevent people who itemize their taxes from filing before mid- to late February, the IRS said Tuesday.
Instead, the bonus days come thanks to Emancipation Day, a little-known Washington, D.C., holiday that celebrates the freeing of slaves in the district.
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[Tax Money Pie]
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What it Is?
In the United States; according to Wikipedia, Tax Day is a colloquial term for the day on which individual income tax returns are due to the federal government.[1] The term may also refer to the same day for states, even where the tax return due date is a different day.
Since 1955, for those living in the United States, Tax Day has typically fallen on April 15.[1] For those filing a U.S. tax return but living outside the United States and Puerto Rico, Tax Day has typically fallen on June 15, due to the two-month automatic extension granted to filers by IRS Publication 54.[2]
Due to Emancipation Day in Washington, D.C. (which is observed on the weekday closest to April 16), when April 15 falls on a Friday, tax returns are due the following Monday; when April 15 falls on a Saturday or Sunday, tax returns are due the following Tuesday.
- In 2014, Tax Day was Tuesday, April 15
- In 2015, Tax Day was Wednesday, April 15
- In 2016, Tax Day will be Monday, April 18
- In 2017, Tax Day will be Tuesday, April 18
Assessment
Similarly, April 15th is the deadline for filing Income Tax Returns (ITR) in the Philippines.
“Tax Freedom” Day with Personal Calculator
Conclusion
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