While the weather may be perfect this weekend, many procrastinators may be stuck inside with receipts and calculators, trying to finish (or start) filling out tax returns to mail before Tuesday’s midnight deadline.
Thanks to a local holiday in the nation’s capital, the deadline for filing returns this year is April 17 instead of April 15.
The holiday is Emancipation Day in Washington D.C., which celebrates the day slaves were freed in the district. Since the holiday falls on Sunday, it will be celebrated in D.C. on Monday. By law, tax filing deadlines cannot fall on holidays or weekends.
The bottom line is 144 million-plus taxpayers get two extra days to file, and nearly 70 percent have already done so, according to the Internal Revenue Service.
The average refund is $2,794, which is down nearly 4 percent from a year ago. Here is a link to the latest IRS update on this year’s filing season.
Tuesday also happens to be Tax Freedom Day, the day the nonpartisan Tax Foundation says Americans will have worked enough days to pay all of their federal, state and local taxes. It will take 107 days of work, and 29.2 percent of income, to satisfy tax collectors this year.
Returns must be in the mail by midnight Tuesday. Avoid the last-minute post office traffic and mail early.