• Samantha M. Besnoff, CPA

The IRS has extended Tax Season to May 17, 2021

So, by now you have heard that the IRS has extended the federal tax deadline to May 17, 2021. So, what does that actually mean? For starters, it gives the taxpayer an extra month to file their 2020 Individual Tax Return. But it does not extend the time to pay first quarter estimates unlike the IRS did last year when it extended that too. These are still due April 15, 2021. In addition, there is nothing you need to do to get this May 17th extension, it is automatic. So, no worries about filing any extension paperwork. In addition, if you live in Louisiana, Texas, or Oklahoma, you are extended to June 15th as part of the Winter Storm Disaster Relief that was granted to those states. The other item to be aware of is while this extends the deadline for federal, as of yesterday, it is not an automatic extension for state or local returns. You will need to check with your state and/or local taxing authorities to find out if they too will extend to May 17, 2021. You can read more from the IRS here: https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline

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