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Isaacson Isaacson
Sheridan & Fountain, LLP
101 W. Friendly Ave., Suite 400
Greensboro, NC 27401
(336) 275-7626
February 24, 2011 |
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Greetings!
Isaacson Isaacson Sheridan & Fountain, LLP sends out periodic emails with news and updates about legal issues and about our firm. We hope you find this information useful. If you prefer not to receive these emails, please click on SafeUnsubscribe below. Of course, please email or call us if you would like to discuss any of these matters.
The following alert is from Desmond Sheridan.
Tax Returns Are Due April 15, Right? Not When DC's Emancipation Day Affects Filing and Payment Deadlines
IRS had earlier announced that because of the Emancipation Day holiday in the District of Columbia (DC), the due date of Form 1040 for 2010 is April 18, 2011, instead of April 15, 2011. Now, it has explained the mechanics of this deferral and how it may apply in other years.
If you are wondering, April 16, 1862 was the day Abraham Lincoln signed a document freeing slaves in the District of Columbia. The more well known Emancipation Proclamation was signed January 1, 1863.
Background. Usually, income tax returns must be filed on April 15. When April 15 falls on a Saturday, Sunday, or legal holiday, a return is considered timely filed if filed on the next succeeding day that is not a Saturday, Sunday, or legal holiday. A legal holiday refers to a legal holiday in DC.
Under DC law, Emancipation Day, April 16, is a legal holiday. Here's how it works:
- When April 16 falls on Saturday, then Friday, April 15, is the observed date for Emancipation Day and the filing deadline for all tax forms and payments required to be filed or completed on or before April 15, is Monday, April 18.
That's the situation this year, when April 16 falls on a Saturday, which means Emancipation Day will be observed on Friday, April 15, 2011. Thus, the filing deadline for all tax forms and payments required to be filed or completed on or before April 15 (including Form 1040) will be Monday, April 18, 2011.
- When April 16 falls on Sunday, then Monday, April 17, is the observed date for Emancipation Day, and the filing deadline for all tax forms and payments required to be filed or completed on or before April 15 is Tuesday, April 18.
- When April 16 falls on Monday, then that day is the observed date for Emancipation Day, and the filing deadline for all forms and payments required to be filed or completed on or before April 15 is Tuesday, April 17.
Note: North Carolina is following these rules, so 2010 North Carolina income tax returns are due April 18, 2011.
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About the Writer
Desmond G. Sheridan is a partner in the Greensboro law firm of Isaacson Isaacson Sheridan & Fountain, LLP and is a certified public accountant. His practice areas are business transactions, tax, corporations, limited liability companies, commercial real estate and estate planning. Sheridan has served on the Board of Directors of the North Carolina Association of Certified Public Accountants and has been recognized as a "Best Lawyer in America," a North Carolina "Super Lawyer" and a member of the "Legal Elite" by Business North Carolina. He has given numerous continuing education presentations to CPAs and attorneys. |
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Some disclaimers: First, nothing in this email should be construed as legal advice. Second, an attorney-client relationship may only be established by a formal engagement with our firm. Third, this email is informational only; you should not act on any legal matters except with the specific advice of your counsel.
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Our Firm Isaacson Isaacson Sheridan & Fountain, LLP101 W. Friendly Ave, Suite 400 Greensboro, North Carolina 27401 336-275-7626
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