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Old 01-07-2011, 02:28 AM
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Income tax filing deadline prolonged to April 18, 2011

While it's true that you will find few things as certain as death and taxes, the income tax processing deadline this year has changed based upon a relatively new holiday. Emancipation Day, which was officially adopted as a holiday in the District of Columbia in 2005, will cause the tax processing deadline to be pushed forward from April 15, 2011, to April 18, 2011. The holiday, which became official in 2005, is observed on Friday the 15th. This will help several people stay from getting a paydayloan for taxes for at least a few more days.



Now there is Emancipation day to have income taxes done by



Tax filing day will not be the only thing that April 15 is known for at this point. The celebration of freedom will occur on Emancipation day which the District of Columbia celebrates on that day. The Compensated Emancipation Act in 1862 being signed by President Abraham Lincoln is the reason for the legal holiday. About nine months later, the Emancipation Proclamation happened. This meant that 3,100 slaves in the District of Columbia were freed.



What is celebrated in D. C. will now be celebrated through the nation, says the Internal Revenue Service, although Emancipation Day is only within the District of Columbia. Interestingly, D.C. and six other eastern states already had the income tax processing timeline moved forward because of another holiday, Patriots Day. While Emancipation Day was not initially planned to intersect with the national tax processing deadline, the coincidence is welcome for procrastinators across the U.S.



Laws about itemizing



The IRS will not by taking any itemized 2010 income tax returns until mid-February at the very least due to the new income tax laws. Everyone wanting to itemize could have to wait. The IRS can be trying to get ready though. This delay could potentially trigger an inconvenience for tens of millions of working class individuals who use Schedule A to claim their deductions for such things as mortgage interest, charitable donations, medical expenditures, certain education expenses (via Form 8917) and local and state sales tax paid.



The new income tax laws information is accessible online. Just go to Internal Revenue Service.



Information from



MSNBC

msnbc.msn.com/id/40911406/ns/business-tax_tactics/



Today Show

lifeinc.todayshow.com/_news/2011/01/04/5759248-if-you-itemize-deductions-dont-file-that-tax-return-yet



What is Emancipation Day?

youtube.com/watch?v=OJWJ_43lgnQ



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