This publication highlights tax law changes that take effect in 2006, 2007, and later years. The chapters are divided into
sections based on when
the changes take effect.
The tax information for 2007 and later years is accurate as of the time this publication went to print. Subsequent changes
to the tax law may
occur.
District of Columbia Emancipation Day.
Under federal law, holidays observed in the District of Columbia have an impact on federal tax return due dates. Under
recently enacted city
legislation, April 16 is a holiday in the District of Columbia. The IRS became aware of the interaction of the national filing
due date and the local
observance of the new Emancipation Day holiday after most forms and publications for the current tax filing season went to
print. Any IRS form,
instruction, or publication that currently shows an “
April 16, 2007” due date should now be read as “
April 17, 2007.” The extended time to
file and pay is because April 15 falls on a Sunday in 2007 and the following day, Monday, April 16, is Emancipation Day, a
legal holiday in the
District of Columbia. Emancipation Day will not impact filing due dates next year because April 15 is on a Tuesday in 2008.
The normal due date will
apply. The next year that Emancipation Day could affect filing due dates is 2011.
The April 17, 2007, due date will apply to the following.
-
2006 federal individual income tax returns, whether filed electronically or on paper.
-
Requests for an automatic six-month tax-filing extension, whether submitted electronically or on Form 4868.
-
Tax year 2006 balance due payments, whether made electronically (direct debit or credit card) or by check.
-
Individual estimated tax payments for the first quarter of 2007, whether made electronically or by check.
-
Individual refund claims for tax year 2003, where the regular three-year statute of limitations is expiring.
-
Calendar-year 2006 partnership returns (Form 1065 and Form 1065-B).
-
Annual information returns (Form 990) and unrelated business income tax returns (Form 990-T) for tax-exempt organizations
with a fiscal year
ending on Nov. 30, 2006.
-
Calendar-year Form 990-T for certain employee trusts, retirement plans, and education saving plans.
-
2006 gift tax returns (Form 709).
-
Extension requests for any return normally due April 15.
-
The March tax deposit for employers (generally, small businesses) required to deposit withholding taxes on a monthly basis.
-
Withholding-tax deposits for larger employers, subject to the next day deposit rule.
Other tax-filing and payment requirements affected by this change are described in Publication 509, Tax Calendars
for 2007.
Adjusting your withholding or estimated tax payments for 2007.
If your tax for 2007 will be more or less than your 2006 tax, you may need to adjust your withholding or estimated
tax payments accordingly. If
your tax will decrease, you can get the benefit of lower taxes throughout the year. If you will owe more tax, you can avoid
a penalty when you file
your tax return.
See the following table for forms and publications that will help you adjust your withholding or estimated tax payments.
See chapter 8 for
information on ordering forms and publications.
| To adjust your... |
Get Form... |
And Publication... |
|
Withholding
|
W-4, Employee's Withholding Allowance Certificate
|
919, How Do I Adjust My Tax Withholding?
|
|
Estimated tax payments
|
1040-ES, Estimated Tax for Individuals
|
505, Tax Withholding and Estimated Tax
|
Photographs of missing children.
The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs
of missing children
selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling
1-800-THE-LOST (1-800-843-5678) if you recognize a child.
Comments and suggestions.
We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:
Internal Revenue Service
Business Forms and Publications Branch
SE:W:CAR:MP:T:B
1111 Constitution Ave. NW, IR-6406
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number,
including the area code, in
your correspondence.
You can email us at
*taxforms@irs.gov. (The asterisk must be included in the
address.) Put “
Publications Comment” on the subject line.
Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments
as we revise our tax
products.
