On Wednesday, March 17, 2021, the Internal Revenue Service (IRS) announced they would extend the deadline to file an individual income tax return and pay any taxes owed from April 15 to May 17 of this year.
This announcement followed calls from legislators and accountants for a delay, as taxpayers struggle with the effects of the COVID-19 pandemic.
The IRS is still processing 2019 tax filings; their backlog is reported to be approximately 24 million returns.
For those filing extensions, the deadline to file your return will remain October 15, 2021, and any tax liabilities must still be paid by May 17.
Note that deadline for estimated tax payments for the first quarter of 2021 has not been extended; these payments are due on April 15, 2021.
State tax filing and payment deadlines are not automatically subject to this delay, and you should check with your CPA to ensure that all your tax returns and payments are filed appropriately and timely.
If you have questions on the extended deadline, your state’s response, if any, or any other questions, please click here to email me directly – I am here to help.
Until next Wednesday –