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NEWS Tax Deadline Delayed  


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A LITTLE known holiday will give taxpayers three extra days to file their returns in 2011. The filing deadline is normally April 15, unless that day is a weekend or federal holiday, but this year the deadline has been pushed back to Monday, April 18. On April 15, a little known holiday celebrated in Washing- ton, D.C. called, Emancipation Day, is moving back tax day, the Daytona-Beach News Jour- nal reports. That holiday is normally celebrated on April 16, but because that’s a Sat- urday this year, it has been moved up a day early.


The start of the 2011 filing


season began last month for the majority of taxpayers. Still, the tax cut changes Congress made recently means the Internal Revenue Service will need to update its processing systems for three provisions that were extended in the tax bill. The IRS said that taxpayers affect- ed by those three would need to wait until mid to late Feb- ruary to file their tax returns. “Because of the late change in the law, tax services are having to reprogram, and the IRS is having to approve new forms,” says Lynn Balaban, a certified public accountant in Daytona Beach, who runs her own busi- ness. “That’s what’s causing the delay.” A money saver passed in


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September called, the Section 179 deduction, allows business- es to deduct the full purchase price of qualifying equipment bought or financed this year. Small businesses, especially manufacturers that have equip- ment costs, including software and vehicles totaling less than $500,000, can write them off on the 2010 tax return if they’ve been used for business purposes more than 50 percent of the time. “The highest it had ever been was $250,000,” says Suzanne Forbes, managing member of the Daytona Beach office of James Moore & Co. “That’s a pretty big benefit.”


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