What's New This Tax Filing Season  

The Office of Tax and Revenue would like to remind District residents of “what’s new” this tax filing season:
 
Filing Deadline:
Taxpayers will get extra time to file their 2011 tax forms as the deadline has been extended to Tuesday, April 17 for federal and District income taxes. The normal filing deadline of April 15 is a Sunday and the next business day, Monday, April 16, is a legal holiday in the District of Columbia – Emancipation Day.

Itemized Deduction Limitation:
Certain DC itemized deductions of DC taxpayers over $200,000 ($100,000 for a separate return filed by a married individual) will be limited to those deductions that exceed five percent of their DC AGI over $200,000 ($100,000 for a separate return filed by a married individual). The itemized deductions that are not subject to the five percent limitation are medical and dental expenses, expenses incurred in the production of investment interest and casualty or theft loss deductions.

Change in the Estimated Tax Safe Harbor requirements:
The estimated tax payments required to be made to avoid any penalties changes from 100 percent to 110 percent of the prior year’s taxes.  This change in the prior year amount of the safe harbor requirements applies to individuals and businesses for tax years beginning in 2012.

Tax Booklets:
The District will no longer mail paper individual income tax packages. Taxpayers can download the forms and instructions from the DC website, www.taxpayerservicecenter.com.  Paper forms will be available at various District agencies and public libraries.