April is a Busy Month for Taxes

Is your tax return finished? If not, this year you have an extra day — or two — to file. April 18, 2016, is the due date to file your 2015 individual federal income tax return and pay any balance due. If you live in Maine or Massachusetts, you have until Tuesday, April 19, to file and pay.

Here's why. The normal due date — Friday, April 15 — is Emancipation Day. That's a holiday in the District of Columbia, so the tax filing deadline shifts to Monday, April 18. However, Monday, April 18, is also a holiday (Patriots Day) in Maine and Massachusetts. That means if you live in either of those states, your deadline moves to April 19. The extended due dates apply whether you file electronically or on paper.

Here are other major mid-April deadlines.

• The above due dates also apply to filing an automatic extension for your 2015 individual income tax return if you can't file by the deadline. You don't need to explain to the IRS why you need more time and the automatic extension gives you until October 17, 2016, to file your return. An extension does not, generally, give you more time to pay taxes you still owe. To avoid penalty and interest charges, taxes must be paid by the April deadline.
• Filing 2015 partnership returns for calendar year partnerships.
• Filing 2015 income tax returns for calendar year trusts and estates.
• Filing 2015 annual gift tax returns.
• Making 2015 IRA contributions.
• Paying the first quarterly installment of 2016 individual estimated tax.
• Amending 2012 individual tax returns (unless the 2012 return had a filing extension).
• Original filing of a 2012 individual income tax return to claim a refund of taxes. If you have tax refunds due for prior years, the refund is lost unless you file a return to claim it.