IRS postpones April 15 deadline

The IRS announced on Wednesday that it is postponing the deadline for all individual tax returns. Returns otherwise due April 15 will not have to be filed until May 17 this year. Therefore, federal income tax payments for the 2020 tax year due on April 15, 2021 will also be extended to May 17, 2021 without penalties and interest regardless of any amount owed. Individual taxpayers who need additional time to file beyond May 17, 2021 can request a filing extension by May 17, 2021 that gives the taxpayer until October 15, 2021 to file their income tax return.

This deadline change does not apply to estimated tax payments. The first quarter 2021 estimated tax payments are still due April 15, 2021. It also does not apply to corporate or trust returns and payments.

Most states and cities have not yet issued any guidance or updates on these changes as to whether the states and cities will conform to the federal changes.

March 18, 2021 8:09 pm

Leave a Reply

Your email address will not be published. Required fields are marked *