Tuesday, February 28, 2012

2012 Deadlines for Filing Tax Returns


Why April 17th  2012?
The original slated deadline is April 15 of each year, but April 15 2012 is a Sunday and the next day i.e. April 16, 2012 is Emancipation Day in the District of Columbia. So April 17th is the last tax day.
Deadlines for filing return on taxes paid/ income earned in Year 2011
Tax Day
Type of IT Return
Filing date details
April 17, 2012
2011 Federal Tax Return
Filing deadline and due date for Federal income tax return
State Deadlines 
2011 State Tax Return
Due dates for State Income Tax Returns.
April 17, 2012
2011 Federal Tax Extension
Due date for Tax Extensions for 2011 Federal Income Tax Returns
State Deadlines

2011 State Tax Extension
Due dates for State Income Tax Extension
October 15, 2012
2011 Federal Tax Return
Last day to efile 2011 Income Tax Return for Tax Extension filers and late Tax Return filers
April 15, 2015
2011 Tax Amendment
To claim a refund on  Amended Return, file anytime within 3 years from the original due date
Anytime filing
Previous Year Tax Returns
File a Tax Return for previous tax year anytime within 3 years of the original tax deadline




Federal Tax Extension
If you owe taxes and do not file a tax return on time, you might be subject to late payment penalties. If you are not ready to file your tax return, file for an extension AND pay at least 90% of the tax bill to avoid late payment penalties. Filing for an extension gives you 6 months to file a tax return.
If you do not owe taxes and are expecting a refund, you may not need to file and extension.
Cannot afford to pay taxes?
Even if you do not have enough money to pay the total tax, a tax return should be filed before the due date. The IRS can assist in setting up an alternative payment plan, once the return is filed. This will avoid penalties for failure to file. The 3 payment options provided by the IRS are:
Additional Time: A brief additional time to pay can be requested through online payment agreement application or by calling 800-829-1040.
Installment Agreement: The IRS web-based online payment agreement application (OPA) http://www.irs.gov/individuals/article/0,,id=149373,00.html  allows taxpayers who owe less than $25,000 in combined tax, penalties and interest to self-qualify, apply for and receive immediate notification of approval. This OPA provides with simple and convenient method to establish an installment agreement without personal interaction with IRS and reduces paper processing.
Requests for installment agreement can also be made in writing in Form 9465 or calling 1-800-829-1040.
If you owe more than $25,000, you are required to complete a financial statement to determine a monthly payment amount for an installment plan. For more information, see Tax Topic 202.
Pay by Credit or Debit Card: IRS accepts all major cards (American Express, Discover, MasterCard, Visa) for no additional fee using the e-pay option. The processing companies charge a convenience or flat fee based on the amount paid. http://www.irs.gov/efile/article/0,,id=97400,00.html

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