With an estimated 50 million Americans yet to file their tax returns at the weekend despite the April 15 Tax Day deadline set by the fiscal authorities, the IRS has indicated its readiness to accept tax returns filed after the date, subject to a grant of extension.
Except for resident or corporate entities in Maine or Massachusetts, where taxpayers are granted an extension until April 17 due to the Patriot’s Day holiday, others are expected to file returns on April 15 or file for an extension.
The Tax Day has a habit of changing on the calendar as the holiday’s date can vary based on certain circumstances. For example, if the 15th falls on a Saturday, Sunday or civil holiday, the deadline is extended to the next working day.
Before now, the Tax Day used to be March 15. However, in 1955, as tax law was becoming increasingly complex, the Federal Government pushed the deadline back to April 15 to give Americans more time.
According to the IRS, filing an extension will help taxpayers avoid paying penalties for filing a late return. While extensions provide more time for taxpayers to file, but not more time to pay any tax owed.
Information about free e-file options, how to request an automatic six-month filing extension or fast, secure ways to pay any tax due using IRS DirectPay are amongst the options open to taxpayers online to file their returns.
