Deadline Extended for Payroll and Personal Taxes

Deadline for Personal and Payroll Taxes Extended

payroll taxes extended picture of timer

Thanks to Emancipation Day, we all get three more days this year to file our 1040 federal tax returns for 2010. Businesses also get a few more days to report certain payroll taxes and estimated taxes.

The IRS has extended this year’s 1040 tax filing deadline to Monday, April 18 because Emancipation Day, a holiday celebrated in the District of Columbia, falls on April 15. (By law, all D.C. holidays affect tax deadlines the same as federal holidays.) Postmark your federal income tax return by midnight on April 18.

If you want to request a six-month extension on filing your income taxes, file Form 4868 by April 18. You’ll have until October 17, 2011, to file your tax return (note: a filing extension doesn’t let you off the hook from paying any tax due. If you think you might owe the government, send your estimated taxes with your filing extension paperwork to avoid penalties.)

Payroll Taxes Extended: What it means for your business

If you or your business is required to make quarterly estimated income tax payments, your deadline is also April 18 for the first quarter 2011.

Don’t assume this extended tax deadline applies to your state or locality, so make sure you observe their tax filing deadlines (which are most likely found somewhere on the tax forms).

Certain federal payroll tax deposits normally due on April 15 also are extended to April 18 this year. If you are a monthly depositor for federal payroll taxes, your March 2011 deposit won’t be due until April 18. If you are a semi-weekly depositor, any taxes withheld for pay dates falling between April 9 and April 12 also come due on April 18. (Remember to initiate your payroll tax deposit via EFTPS at least one banking day before the due date to be consider timely.)

[RELATED ARTICLE: What is EFTPS?]

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