Extended and Delayed -- IRS Deadlines

2010 INDIVIDUAL FEDERAL INCOME TAX RETURNS DUE APRIL 18, 2011 –

The IRS has announced that individual taxpayers, nationwide, will have until Monday, April 18, 2011 to file their 2010 returns and pay any taxes due. Taxpayers get the extra time because Emancipation Day, a holiday in the District of Columbia, is observed this year on Friday, April 15th. By law, D.C. holidays impact tax deadlines in the same way that federal holidays do. The April 18th deadline applies to any return or payment normally due on April 15th. IRS says that April 18, 2011 is also the deadline for requesting a tax-filing extension and for making 2010 IRA contributions.

Caution! States may or may not follow this rule. Please check with your state department of revenue. State returns may still be due by April 15, 2011.

CERTAIN INDIVIDUAL RETURNS MAY NOT BE FILED UNTIL FEBRUARY –

The IRS says it will need to reprogram its processing systems for three provisions that were extended in the Tax Relief Act of 2010. Therefore, individuals claiming the following items will need to wait to file their tax returns until tax processing systems are ready, which the IRS estimates will be in mid to late February. IRS says individuals will need to wait to file if they are within any of the following three categories:

1) individuals claiming itemized deductions on Schedule A
2) individuals claiming the Higher Education Tuition and Fees Deduction
3) individuals claiming the Educator Expense Deduction

This delay affects both paper filers and electronic filers.

In addition, IRS says certain forms cannot be e-filed at this time. In an IRS QuickAlert, dated January 7, 2011, the IRS says it may be until mid or late February before the following returns may be filed electronically:

• Schedule A, Itemized Deductions
• Form 3800, General Business Credit
• Form 4684, Casualties and Thefts
• Form 5405, First-Time Homebuyer Credit and Repayment of the Credit (Page 2)
• Form 6478, Alcohol and Cellulosic Biofuel Fuels Credit
• Form 8834, Qualified Plug-in Electric and Electric Vehicle Credit
• Form 8859, District of Columbia First-Time Homebuyer Credit
• Form 8910, Alternative Motor Vehicle Credit
• Form 8917, Tuition and Fees Deduction
• Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit
• Entries for Educator Expenses (Form 1040, line 23 and Form 1040A, line 16) or Tuition and Fees (Form 1040, line 34 and Form 1040A, line 19)

The IRS says it will announce when these forms are available for e-file and when the Form 1040 and Form 1040A changes are implemented.