Emancipation Day Causes IRS to Extend Tax Deadline by One Day

Because Emancipation Day day is a legal holiday in Washington, D.C., the IRS will comply with a decades-old federal statute and give the entire nation a one day extension from April 16, 2007 to April 17, 2007 to file the following returns:

• Calendar-year 2006 federal individual income tax returns, whether filed electronically or on paper (Forms 1040, 1040A or 1040EZ).
• Requests for an automatic six-month tax-filing extension on an individual return for calendar-year 2006, whether submitted electronically or on Form 4868.
• Tax-year 2006 balance-due payments, whether made electronically (direct debit or credit card) or by check.
• For calendar-year taxpayers, individual estimated tax payments for the first quarter of 2007, whether made electronically or by check. In rare cases, estimated tax payments for the second, third and fourth quarters may be affected for individuals operating on a fiscal year that is not a calendar year.
• Individual refund claims for tax year 2003, where the regular three-year statute of limitations is expiring.
• For calendar-year taxpayers, tax-year 2006 contributions to a Roth or traditional IRA.
• Corporation income tax returns, including S corporations (Forms 1120, 1120-A and 1120S) for a fiscal year ending on Jan. 31, 2007, and any balance due.
• For a calendar-year corporation, the estimated tax payment for the first quarter of 2007. In some cases, estimated tax payments for the second, third and fourth quarters may be affected for corporations operating on a fiscal year that is not a calendar year.
• Calendar-year estate and trust income tax returns (Form 1041) and any balance due.
• For calendar-year estates and trusts, the estimated tax payment for the first quarter of 2007. In some cases, estimated tax payments for the second, third and fourth quarters may be affected for estates and trusts operating on a fiscal year that is not a calendar year.
• Calendar-year 2006 partnership returns (Form 1065).
• Annual information returns (Form 990) and unrelated business income tax returns (Form 990-T) for tax-exempt organizations with a fiscal year ending on Nov. 30, 2006.
• Calendar-year 2006 Form 990-T for certain employee trusts, retirement plans and education savings plans.
• Extension requests for any return.
• The March tax deposit for employers (generally, small businesses) required to deposit withholding taxes on a monthly basis.
• Withholding-tax deposits for larger employers, subject to the next day deposit rule.

For further information, see IRS, Questions and Answers — April 17 Deadline.

Special thanks to Prof. Bryan Camp (Texas Tech University School of Law) for bringing this development to my attention.