The IRS and the U.S. Department of Treasury announced yesterday that the 2021 income tax filing deadline has been extended from April 15, 2021, to May 17, 2021. The IRS will be providing additional guidance in the coming days.
Individuals can also delay federal income tax payments for the 2020 tax year from April 15 2021, to May 17, 2021, with no penalties or interest. This applies to individual taxpayers, including those who pay self-employment tax. Penalties, interest and additions to tax will begin on any unpaid balances as of May 17, 2021.
Individuals do not need to file any forms or call the IRS to qualify, the federal tax filing and payment extension is automatic. Those who still need additional time to file beyond the new May 17 deadline can request a filing extension until October 15 by filing Form 4868. The form gives taxpayers until October 15 to file their 2020 tax returns, but does not give an extension of time to pay taxes due. This relief does not apply to estimated tax payments that are due on April 15, 2021.
The March 15 filing deadline for S corporations and calendar-year partnerships was not extended, nor was the April 15 filing deadline for C corporations or trusts.
The postponement only applies to individual federal income returns and tax payments due April 15, 2021, not state tax payments or deposits, or any other type of federal tax. State filing and payment deadlines vary and are not always the same as the federal filing deadline. Specific information on the state filing deadlines can be found at the state tax agencies.
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