While it is true that you will find few things as certain as death and taxes, the income tax filing timeline this year has changed based upon a relatively new holiday. This year's tax filing timeline moves from April 15 to April 18, as a result of the D.C. Holiday Emancipation Day. Emancipation Day frees up procrastinators to file after April 15, which is the official holiday observance day in 2011. This will help several individuals stay away from applying for a payday loan for taxes for at least a few more days. Article resource - Tax filing deadline extended to April 18, 2011 by MoneyBlogNewz.

Timeline for taxes will be on Emancipation Day

April 15 is more than just a tax processing day. It has become known for other things. Emancipation Day, which is observed in the District of Columbia on that date, is a celebration of freedom. Specifically, the legal holiday remembers President Abraham Lincoln's signing of the Compensated Emancipation Act in 1862. About nine months later, the Emancipation Proclamation took place. This meant that 3,100 slaves within the District of Columbia were freed.

While Emancipation Day is only official within the District of Columbia, the IRS states that holidays observed in D.C. apply nationwide . Because of Patriots Day, D.C. and six other eastern states already changed the income tax processing timeline. While Emancipation Day was not initially planned to intersect with the national income tax processing deadline, the coincidence is welcome for procrastinators across the U.S.

Laws about itemizing

The Internal Revenue Service won't by taking any itemized 2010 income tax returns until mid-February at the very least due to the new tax laws. The IRS will not be ready for any person who wants to itemize write offs for a while. This delay could potentially cause an inconvenience for tens of millions of taxpayers who use Schedule A to claim their write offs for such things as mortgage interest, charitable donations, medical expenses, 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 www.internal revenue service.gov.

Citations

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