U.S. Federal Tax Deadline Pushed to May 17
by Tanya Silves, CPA
The Treasury Department and Internal Revenue Service (IRS) announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021 to May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021 without penalties and interest, regardless of the amount owed.
This provides U.S. individual taxpayers additional time to file their 2020 tax returns and pay any amounts owed to the IRS.
This news comes following the recently passed American Rescue Plan Act, which included multiple changes that impact both 2020 and 2021 returns. While favorable for taxpayers, these changes add to an already complex filing year for many individuals. Combined with the large and ongoing Payroll Protection Program business relief package, some taxpayers and businesses may have faced difficulty meeting the original April 15 deadline.
Estimated Tax Payments
This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15.
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Tanya Silves, CPA
Partner, Tax Director
Tanya Silves is a Partner and the firm’s Tax Director, with a deep expertise in tax planning and preparation for individuals and businesses.