I’m Confused! When Are My Taxes Due This Year?
In the past our Federal Income Taxes have always been due on April 15th. But then COVID-19 reared it's ugly head and everything changed. For the last couple of years the traditional April 15th deadline has been extended. What is going to happen in 2022?
Well at this point there is no extension due to COVID, however, your taxes still won't be due until AFTER April 15th.
Why the Delay This Year?
This is where it gets confusing and your head begins to spin...
In Washington, D.C., (where the Internal Revenue Service is headquartered), they celebrate Emancipation Day on April 16th. It is a day set aside to commemorate the date in 1862 when President Abraham Lincoln signed the District of Columbia Compensated Emancipation Act that freed 3,000 slaves in the D.C. area. The nation's capital has celebrated Emancipation Day since 2005.
Here is where your head starts spinning...Because April 16th falls on a Saturday in 2022, Emancipation Day will be celebrated on Friday, April 15th -- closing city and federal offices (including the I.R.S.) in Washington, D.C. That means that the deadline for your federal taxes will now move to Monday, April 18th.
If you don't think you will be able to get your taxes completed by April 18th, you can file for a six-month extension before that date (making your taxes due in October). However, any money you owe is still due to be paid by April 18th.
But Wait, Some People Get Even More Time
In Maine and Massachusetts residents celebrate a holiday called Patriots' Day on April 18th. That means those people get yet an extra day, with their taxes not being due until Tuesday, April 19th, 2022.
What About State and Local Taxes?
Most state taxes are due on the same day as federal taxes. A lot of cities extend the deadline to the end of that month...or April 30th (which also falls on a Saturday -- so some may extend their deadlines to Monday, May 2nd. The City of Grand Rapids has also extended their due date to May 2nd.)
An Easy Way to Remember
Just do like I do -- set a personal due date of April 1st. I find that a very appropriate due date because I become the "fool" on April Fool's Day who is still finishing up my taxes!
In the mean time, you can always start saving some money to pay those taxes...