Depending on your personal tax situation filing can either be an enjoyable or begrudging process. Returns often leave individuals with positive feelings, knowing they will be receiving a monetary boost due to their withholdings allocated throughout the year but owing has an adverse effect.
As a result, Tax Day
, is a date for which all Americans are readily familiar with, and often dread, for those who are unprepared or procrastinated till the very end. The deadline for individual tax returns to be filed with the United States government often falls on April 15 but that is not the case this year.
Employees typically receive their W-2 forms in the month of January from their employers revealing their income from the prior year. These amounts are then used to compile the tax return, along with potentially a number of other forms and figures. Two and one-half months in order to complete the process.
As an individual, many citizens elect to complete their required returns in this timeframe but some will choose to file an extension, if needed. However, filing an extension
should only be executed for a needed cause as the six month grace period only applies to the paperwork, not payment.
Tax Day however, will not fall on April 15 this year as it is a weekend (Sunday). Normally moved to the following Monday when this occurs, another holiday extends the initial deadline for filing until Tuesday, April 17 this year.
is celebrated on the closest weekday to April 16 in Washington D.C. and now often has an effect on they typical filing deadline. For example, this year the holiday will be recognized on Monday and as a result pushes the filing date for individual tax returns back one day to the April 17 due date.
Moving forward it will be a few years before the two circumstances, weekend and holiday, have an effect on Tax Day again. Including this year, it will be four years until the date has another effect on filing your individual taxes.
If needed, enjoy the slight two-day extension this year because it won’t come around again until the 2022 calendar year. If all remains the same, Emancipation Day should be celebrated on April 15 that year and taxes will then be due on the following Monday, April 18 - beginning another few years of non-April 15 tax dates.
If you still need to file or register for an extension, the tax preparation and accounting experts at Bloch, Rothman, and Associates
will be pleased to assist you in filing a return. Our associates can help ensure you receive the best refund possible or assist in lowering taxes owed, should that apply. Experienced and knowledgeable experts at Bloch Rothman, can provide expert tax advice and assistance, as well as help you with a variety of bookkeeping, accounting and payroll issues you may be experiencing. Need assistance for your unique financial or tax situation? Call 303-321-7160 or contact us
for your initial free no obligation consultation.