When are taxes due in 2011

Are you wondering when taxes are due in 2011? You need to file your 2009-2010 taxes in 2011 and it is important you file them by the deadline. Any late filings can result in a fee.

Individuals living in the US have to file their taxes. Their taxable income is basically their income (employment, rental accommodation, dividends, bank interest, capital gains and more) minus deductions (charity donations, mortgage interest, medical expenses and losses on property to name a few). Tax rates vary depending on how much you earn and what state you reside in and whether you file single, married but filing separately, married and filing jointly and if you are the head of household. The income brackets vary each year and in 2010 you are taxed at 15% if you are single and earn between $8376 and $34k, whereas if you are head of household you are taxed at this level up to $45 550. The top marginal tax rate in the US is 35% and applies to those who earn anything from $186 825 as a married citizen filing separately and $373651 for the other classifications. The brackets and incomes stated here are the ones used for taxes filed in 2011. If you want to estimate how much tax you owe in 2011 you should use some tax software or the free tax calculators available online.

This page will provide information on when 2010 taxes are due in 2011.

So when do you need to file your 2010 taxes? What is the 2009-2010 tax deadline in 2011? These are two questions most of the US will be asking so that they manage to get their tax return filed on time.

Normally taxes are due on April the 15th every year unless it is a Saturday or Sunday, but 2011 is different. 2009-2010 taxes are due on April 18th 2011. This is the day you need to ensure you submit your tax forms (1040, 1040A, or 1040EZ) or request an extension to pay your taxes. The 2011 tax due date was moved from April 15th 2011, as it is Emancipation Day.  Emancipation Day is a bank holiday in the US and is normally celebrated on the 16th April, but this year the 16th is on a Saturday so the bank holiday was moved to the Friday. The result of this means that 2011 taxes are now not due until April 18th 2011, so that tax payers get three more days to have their tax returns filed.

So what happens if you fail to submit and pay your taxes by the 2011 deadline of April 18th?

It is very important that you ensure that your tax form is filed either electronically or posted by the tax return due date of 18th April 2011. If you do not pay your taxes on time you will be subject to a fine, and interest charges added to the tax money you owe the IRS.