If you would like to observe specific holidays during the close period, you can add them in Manage Entities under the Holiday Calendar section.
If the holiday falls on a business day deadline, the checklist item or reconciliation will become due the day after the holiday.
If the holiday falls on a hard deadline, the checklist item or reconciliation will become due the day before the holiday.
For Checklist tasks with a Weekly Frequency, the task will become due before the holiday as well.