Updated: Apr 12, 2021
Who does this effect?
All Individual Tax filers and Individuals who pay Self-Employment tax Forms (1040, 1040-SR, 1040-NR, 1040-PR, 1040-SS, 709)
What are the details?
2020 Federal Income tax FILING and PAYING due date for Individuals automatically extended to May 17th, 2021.
No need to contact IRS since the extension is automatic
Form 4868 Extensions for Individual taxpayers can also be filed by the May 17th deadline to extend the filing date to Oct. 15th. The Form 4868 extends the filing date only. Federal income tax is still due by May 17th, 2021 in order to avoid interest and penalties.
This relief does not apply to estimated tax payments that are due on April 15th, 2021. These payments are still due on April 15.
This extension does not apply to state tax returns, payments, deposits or payments of any other type of federal tax. The IRS urges taxpayers to check with their state tax agencies for those details.
The IRS stated that they will be providing more details in the days to come.
When was this announced?
This was announced on March 17th, 2021.
Where can I find this information?
Why was this decision made?
IRS Commissioner Chuck Rettig stated "This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities."
If you need your Individual or Business taxes prepared, then please make an appointment with us as soon as possible. We can't wait to work with you!
***This Blog is not Financial or Legal advice, it is for informational purposes only. SDCM Tax Service.com is not responsible for any decisions you make after reading our blog***