Individual Tax Filing Deadline Moved to May 17th
Filed under:Tax Advisory: U.S. Federal
The IRS announced on Wednesday March 17th, 2021 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.
The postponement does not apply to estimated income tax payments that are due on April 15, 2021. These payments are still due on April 15.
The postponement does not apply to any other type of federal tax or to any federal information returns.
Consequently, Jones & Roth CPAs and Business Advisors is asking its clients to continue to have all tax documentation to us as planned by March 22nd.
The Association of International Certified Professional Accountant (AICPA) has reported: “Many taxpayers will not benefit from the extended deadline. The failure to include estimated payments nullifies any benefit of a postponement, since the tax return work has to be done to calculate estimated payments…More than 9.5 million individual returns filed in for the 2018 tax year included estimated payments.”
Read the Full AICPA Update
For state-specific information, and to determine whether your state is extending the filing deadline, please refer to your state’s Department of Revenue website.
If you have questions or need further guidance, contact your Jones & Roth CPA.