Tax season nears: What has changed?

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webmaster | 01/12/12
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Year brings new credits, increases in deductions

Tax season officially starts next week as the IRS begins to accept electronically filed income taxes on Jan. 17.

And according to the Internal Revenue Service, most taxpayers will be pleased at the extension of several popular tax benefits signed into law in December 2010 — and a later filing deadline thanks to the calendar.

Taxpayers will have three extra days this year to file — it’s a leap year, adding a day to the end of February, and the deadline to file federal income taxes has been pushed to April 17. The traditional tax day of April 15 falls on a Sunday and the District of Columbia celebrates Emancipation Day this year on April 16.

Taxpayers requesting an extension must do so by April 17, and will have until Oct. 15 to file...

 

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