On Wednesday, March 17, 2021, the IRS and Treasury Department announced the postponement of the April 15 tax filing deadline to May 17 for individual tax returns this year, giving taxpayers additional time to file returns and pay any outstanding amounts due.
The extended deadline applies only to federal income returns and taxes. Filers do not need to file a Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) to qualify for this postponement. Those who do wish to file a Form 4868 to extend will have until October 15 to file their returns, but their tax payments will be due May 17.
The postponement does not apply to estimated quarterly payments, which will still be due April 15. Filers should also check with their local governments for State return due dates which may also remain unaffected by the postponement.
Here is a listing of the key filings and deadlines:
- April 15: Estimated quarterly payments due.
- May 17: Federal income tax returns and income tax payment due.
- October 15: Extended returns due.
The announcement comes after calls from accountants and members of Congress to delay the due date as new legislation and pandemic-related work changes disrupt taxpayer plans.
While the extended filing date is welcome news, HHM plans to stay focused on moving forward with preparing and filing tax returns. We encourage our clients to provide information to us as soon as possible to give them the opportunity to experience a smoother tax deadline, however we will work within each client’s preferred timeframe.
We will continue to keep our clients apprised of any updates from the IRS related to the new filing due date.