On January 4, the IRS announced that taxpayers have until April 18 this year to file their returns. That's a Monday, giving you the weekend to get everything in order.

And, the extension includes paying any taxes due - another nice break.

The reason for the extension is because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 18. By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do. Therefore, all taxpayers have an three extra days to file this year.

If you're requesting an extension, you will have until October 17 to file your 2010 return.

The IRS also announced that it expects to receive more than 140 million individual returns this year.

In its announcement, IRS Commissioner, Doug Shulman also cautioned taxpayers with foreign accounts to be sure to report the income from these accounts and file the required forms on time to avoid very stiff penalties.

(2) New Rule for Professional Tax Preparers

If you use an accountant or other professional to file your return, there's also a new development here. For this first time, these professionals must have a Preparer Tax Identification Number, known as a PTIN. Make sure yours does. He or she should register immediately using the new PTIN sign-up system at: www.IRS.gov/taxpros.

- Nancy Dunnan

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