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10 new tax law changes to know
A key change for this filing season has nothing to do directly with tax laws. Thanks to 2012 calendar quirks, taxpayers get three extra days to finish their returns.
The usual April 15 tax return filing deadline is Sunday. That normally would mean the deadline would fall on the next business day.
But Monday, April 16, is Emancipation Day. And that’s a holiday in the District of Columbia. Because the Internal Revenue Service is headquartered in D.C., any holiday in the nation’s capital applies to all tax filings nationwide.
So while D.C. is typically the target of wrath when taxpayers encounter tax problems, the District deserves some thanks this year for two extra days to file.
And the third extra day? That comes via Feb. 29 because 2012 is a leap year.