On January 4, 2011, IRS extended the tax filing and tax payment deadline for individual taxpayers until April 18, 2011. The extension is made due to the Emancipation Day, a holiday observed in the District of Columbia, which falls this year on Friday, April 15, 2011.
Taxpayers who request an extension will have until October 17, 2011, to file their 2010 tax returns.
This year, the IRS expects to receive more than 140 million individual tax returns this year, with most of those being filed by the April 18 deadline.
The IRS also cautioned taxpayers with foreign accounts to properly report income from these accounts and file the appropriate forms on time to avoid stiff penalties. IRS Commissioner Doug Shulman stated earlier that the IRS “will continue to focus on offshore tax compliance and people with offshore accounts need to pay taxes on income from those accounts.”
Sherayzen Law Office is an experienced tax law firm that has helped numerous clients in Minnesota and across the United States to bring their affairs, including proper reporting of foreign financial accounts, into full compliance with the U.S. tax laws.
Contact Sherayzen Law Office NOW to discuss your case with an experienced Minneapolis tax attorney!