April 15th is a very well known day. Referred to as "Tax Day" in the United States, this date is burned into the minds of Americans just like December 25th and July 4th.
Some people who pay tax in Chicago are excited for filing their taxes annually. Many receive tax refunds because they have overpaid in taxes during the year. There are others who dread tax day. They fear IRS audits, tax liens and have an IRS attorney on standby should they need help.
For those that want to put off filing their 2011 taxes they are in luck this year. Tax day falls on a Sunday this year and the next day is Emancipation day, a holiday recognized by the District of Columbia. It is a law that tax deadlines recognize holidays in the District of Columbia. This means that Tax day is pushed until Tuesday, April 17th.
But that's not the end of the extensions. 2012 is also a Leap Year which means that February has 29 days instead of 28. This extra day means that anyone who is planning to file their 2011 taxes at the last minute will have 3 extra days to get it done.
IRS tax attorneys will tell you that it's not the best idea to wait until the last minute to organize your taxes. If you simply cannot be ready by April 17th then you can file for an extension to complete your taxes by October 15th. Organizing your tax documents as they arrive is a great way to improve your chances of meeting the deadline.
Ultimately, delaying filing is not a successful way to avoid IRS audits. Get your taxes filed and make sure you have a qualified IRS tax attorney on speed dial!
DISCLAIMER: All information on this website are provided for informational purposes only and are not intended to be construed as legal advice. Chang & Carlin shall not be liable for any errors or inaccuracies contained herein, or any actions taken in reliance thereon.
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