CLEVELAND — The clock is ticking toward this year’s tax deadline. This year Tax Day is Tuesday, April 18. There's a reason.
“We all know Tax Day is typically April 15th — that fell on a Saturday this year, which pushes Tax Day automatically to Monday, which would be today. However, today is a holiday in the District of Columbia called Emancipation Day. So, the IRS considers that a holiday, so Tax Day is pushed until tomorrow which is April 18th," said Laura Schultz of Preservation Retirement Services.
Tax experts say the best option is to file early to avoid mistakes that could trigger an audit. If taxpayers still have not filed taxes at this late hour, it’s best, Schultz said, to file electronically.
“But there’s always room to file an extension if you want. Again, you have to get that extension filed by tomorrow the 18th, which is Tax Day, but that gives you an additional six months to get your taxes completed. Now remember, that’s an extension for filing not for paying your taxes. So if you ‘re somebody that actually is going to write a check to the IRS this year as opposed to getting a refund, you still want to get your tax payment as close as you think you can get to what you think your tax liability in by tomorrow. Get that payment started because otherwise you will get assessed a penalty for not paying,” said Schultz.
For taxpayers expecting a refund, according to the IRS, the average refund is about 11% less than last year.
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