Archive for Tuesday, April 17, 2007

Reprieve is over for taxpayers

Returns, extensions must be postmarked by midnight today

April 17, 2007

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Tax preparer Gordon Montney, center, and Dustin Brown, owner of Liberty Tax Service, 810 W. 23rd St., process a tax return for Blair Barr, a Lawrence senior at Kansas University, Monday afternoon in their office. Today is the deadline to file tax returns, or an extension.

Tax preparer Gordon Montney, center, and Dustin Brown, owner of Liberty Tax Service, 810 W. 23rd St., process a tax return for Blair Barr, a Lawrence senior at Kansas University, Monday afternoon in their office. Today is the deadline to file tax returns, or an extension.

Emancipation Day is over, and, consequently, so is your freedom from tax day.

Both federal and state tax returns need to be sent - either through the U.S. Postal Service or via e-mail - before midnight today in order to avoid penalties and fees.

Taxpayers were given a two-day reprieve this year because the traditional deadline - April 15 - fell on a Sunday. And Monday was celebrated as Emancipation Day.

What day, you say?

Emancipation Day - the day that Abraham Lincoln freed slaves in Washington, D.C. - is not a national holiday but is a local holiday in the nation's capital. But a federal law enacted decades ago requires the IRS to take into account Washington, D.C., holidays that affect other government offices, according to the IRS Web site.

Lawrence's downtown post office, 645 Vt., will be open until 7 tonight for late filers. This marks the second year in a row that the Lawrence post office has dropped its tradition of staying open until midnight on tax day.

For Lawrence residents waiting until the last minute to mail returns, their best bet may be to drive to the post office in Mission at 6029 Broadmoor St. Mail from the outside dropbox there will be collected at midnight, but last-minute filers should make sure they have the postage already on their return because the post office itself won't be open at that time.

For people who can't get the return done on time, today also is the day to file an extension. An extension provides an extra six months to file returns. It does not give people an extra six months to pay taxes without penalties or interest.

That means people who file an extension should estimate the tax they owe and send it with the extension form. That should reduce the amount of taxes and penalties ultimately due.

Comments

blessed3x 8 years, 2 months ago

One more year of the child tax credit gone. Thanks dems from saving us from those evil Bush tax cuts that save my family $3000+ every year.

Jerks.

blessed3x 8 years, 2 months ago

3 more years to go....soak it up baby!

Sigmund 8 years, 2 months ago

Something to be said for waste and abuse, thank God we don't get all the Government we pay for. With all that money they could do a lot more damage.

Sigmund 8 years, 2 months ago

Define "rich?" Business and corporations are taxed and pay their employees, who are then taxed. Businesses, corporations and the rich pay their fair share taxes. it is the poor who don't carry their fair share, according to the US Treasury. http://www.ustreas.gov/press/releases/js1287.htm

In 2001, the latest year of available data, the top 5 percent of taxpayers paid more than one-half (53.3 percent)* of all individual income taxes.

The top 1 percent of taxpayers paid 33.9 percent of all individual income taxes in 2001. This group of taxpayers has paid more than 30 percent of individual income taxes since 1995. Moreover, since 1990 this group's tax share has grown faster than their income share.

The rich are carrying their load, its now up to the "poor" to step and pay their fair share!

blessed3x 8 years, 2 months ago

Apparantly we must be rich, because the Bush tax cuts save us a HUGE amount in taxes every year. The refusal by the dems to renew the Bush tax cuts will be an effective tax increase of $400 Billion dollars. Double the largest tax increase on record. Hang on to your wallets guys, it's going to be a bumpy ride.

George_Braziller 8 years, 2 months ago

blessed3x you must be rich - The first tax cut saved me a total of $1.16 per month on a total yearly salary of $43,000.

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