2011 Federal Income Tax Deadline Extended Two Days To April 17, 2012

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Tax Season is upon us. Whether your income-type is W-2, 1099, or something else with loads of separate schedules, it helps to know for which deductions you may be eligible, and to know some of the key changes in the 2011 federal income tax filing process.

Click here to estimate your 2011 federal income tax refund.

Tax Filing Deadline Extended Beyond April 15, 2012

Most years, federal income taxes are due April 15. The deadline date is so common, in fact, that "April 15" has become synonymous with "tax deadlines". This year, however, taxes are not due April 15.

Taxes are due April 17, 2012.

Click here to estimate your 2011 federal income tax refund.

There are two reason why taxes are due April 17 this year instead of April 15. The first is because April 15, 2012 is a Sunday and the IRS is closed on Sundays. Whenever Tax Day falls on a weekend, the tax deadline is moved to the next available business day.

This year, though, that day won't be Monday. Monday is Emancipation Day, a public holiday observed in Washington, D.C., which means that the IRS will be closed on that day, too. 2012 marks the 3rd time in its 7 years that Emancipation Day has changed federal tax deadlines.

The IRS re-opens Tuesday, April 17, 2012. Taxes are due the same day.

Taxpayers requesting a federal income tax extension are required to file taxes no later than October 15, 2012. There is no extension on the October late-filing deadline.

Click here to estimate your 2011 federal income tax refund.

Estimate Your 2011 Tax Refund Right Now

Curious how much you'll owe in taxes this year? Or how much you'll get for a refund? Regardless of whether you use an accountant to file taxes or file your own taxes electronically online, you can find out pretty quickly.

Today's professional income tax software can give a remarkably accurate estimate of what your 2011 tax refund -- or tax bill! -- will be. With just a few pieces of information (e.g.;. marital status; age; household income), you can view review your basic and allowable deductions and use them to project your 2011 tax refund.

Remember : If you bought a home in 2011 and paid discount points at closing, they may be fully tax-deductible. If you refinanced and paid discount points, they may be tax-deductible on an amortizing basis. If you don't know what kind of points you paid (if any), it's listed on your settlement statement -- often on Line 802.

When provided with good inputs, a refund estimator tends to give good outputs but don't go spending your "expected refund" until it's actually in your mailbox. There's a difference between estimating your taxes and actually filing them.

Click here for free access to the online Tax Refund Estimator from TurboTax.

Taxes : Do-It-Yourself Or Pay A Professional?

A good friend of mine says you're going to pay for your taxes one way or other, so you should probably hire a professional. It's sound advice, but I can't force you to follow it. In fact, I'm assuming you won't.

That's why this article points to TurboTax's website. There are hundreds of capable companies that offer tax-filing products, but few have TurboTax's legacy of technical support and customer education.

Like TurboTax, these other companies pay commissions to a referrer such as this site when you ultimately file your taxes through them, but of all the tax preparation companies available online, I have found that TurboTax makes an excellent, intuitive tax filing product -- and it comes with a rock-strong guarantee. Not all of the other companies can say the same.

You can file your taxes online, for free.

Prepare, print and e-file your simple return with TurboTax® Federal Free Edition.