IRS Moves Tax Filing Date To May 17

Mount Vernon VA

24 March, 2021

10:58 AM

Description

Press release from Mount Vernon-Lee Chamber Of Commerce: 03/22/2021 " target="_blank" rel="nofollow"> ShareTweetReturn to ListingIRS Moves Tax Filing date to May 17 03/22/2021 08:04 PM Amid the second tax season of the pandemic, the IRS is giving individual taxpayers another month to file their 2020 returns. While many taxpayers will benefit from this extra time, others will not. How will this change affect your tax filing deadlines? More time to file federal returns The new due date for 2020 1040s is automatically moved to May 17, 2021. You can still request an extension of time to October 15 by filing an extension request using Form 4868. Extension forms are now due May 17, 2021. Remember, this is an extension of time to file, not an extension of time to pay. Penalties for late payment will begin May 17. IRS recommends filing early and electronically The IRS reminds taxpayers that the sooner they file, the sooner they will receive any refunds due. The IRS also encourages electronic filing with direct deposit to help taxpayers avoid paper processing and mail delays. According to the IRS, taxpayers following this recommendation can expect their refunds to be deposited directly into their bank accounts within 21 days of e-filing. No change for federal estimated payments The IRS is NOT giving a break to individual taxpayers who need to pay 2021 estimated tax payments. As of now, the IRS advises that first quarter 2021 estimated tax payments are still due April 15. https://www.rennercpa.com/irs-moves-1040-due-date-to-may-17/ ReferenceJoan [email protected] This press release was produced by the Mount Vernon-Lee Chamber Of Commerce. The views expressed are the author's own.