2012 Tax Deadline And Other Important Tax Dates
It’s always good to have the important tax deadline dates marked on your calendar so you can plan your 2011 tax return. Those W-2s and 1099s from your employer, bank, and broker will start arriving soon. You will have a better idea whether you are getting a refund or owe taxes and file your tax return based on the date that works best for you.
First Official eFile Date
Expecting a refund this year? The IRS will start accepting eFile returns on January 17. You might as well get that money back early and file your return as soon as possible. Unless you like lending money to the government for free.
If you don’t eFile your taxes, this is the year to start. Filing your taxes online is fast, convenient and easy. It limits the possibility for errors. Plus you get that refund back much quicker, including the option to have it directly deposited right into your savings account.
Now if you owe taxes you might want to wait till the tax deadline to pay. Just keep the money owed in an interest bearing account until the due date and squeeze every last penny out of it before you send it off to the IRS.
Tax Filing Deadline
This year the tax deadline is Tuesday, April 17. Why the 17th? Since the usual filing deadline falls on a Sunday (the 15th) and Emancipation Day (a holiday in the District of Columbia) falls on the 16th, we’ll have two extra days to file our taxes this year. Apparently D.C. holidays affect tax deadlines the same way that federal holidays do, giving those procrastinators an extra two day to put off the inevitable.
If your still file taxes using snail mail, make sure your returns are postmarked on or before the tax deadline of April 17. The IRS considers this filed in a timely manor. You may still want to send it out a few days early just to avoid any long lines at the post office.
Tax Deadline For Extensions
Think you might need a tax filing extension? Filing an extension will give you an extra six months to file your tax returns. Making the extended tax deadline October 15. This doesn’t mean you have until then to pay your taxes. Any money owed is due on April 17 with or without an extension.
For those who prefer not to pay their taxes, interest is charged on any unpaid amount. There is also the possibility of late payment penalties. Just a suggestion, get the money in on time or set up some type of alternative payment option with the IRS.
Checking Your Refund
Once you file your taxes, the IRS even has a mobile app to track your return. The IRS2go app is available for the Android and IPhone. It provides a safe, secure way to check your refund status as well as offers tax saving tips for 2012. For the non-app savvy, the IRS still has its Where’s My Refund? online tool.
When you eFile a tax return, you’ll have access to your refund status within 72 hours. Snail mail tax filers won’t have access for three to four weeks. If that’s not an argument for filing your taxes online, I don’t know what is.
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I’ve already decided that I’m going to take an extension. We moved across country, bought and sold 2 houses and I’m really busy now. Too much stress to worry about getting everything done on time!!!