IRS Extends Tax Deadline From April to May
For some, a little extra time is welcomed news when it comes to taxes.
The federal tax filing deadline for 2021 has been pushed back from April 15 to May 17, the Internal Revenue Service announced late Wednesday.
The move by the IRS comes comes amid several new tax changes from last week’s stimulus bill and the delivery of a third round of stimulus checks that began over the weekend. The new one-month extension applies both to filings and payments, and it is only for federal income taxes, and not state income taxes.
This is the second year in a row that the IRS has moved the normal April tax deadline. Last year, the IRS moved its deadline by three months, to July 15, during the the pandemic.
“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,” IRS Commissioner Chuck Rettig said in a statement.
This year the IRS began accepting 2020 returns on February 12, instead of their customary January date. Even with the delay, the IRS had kept the filing deadline as April 15, making a shorter filing season.
This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” Representative Bill Pascrell, Jr., D-N.J., Chairman of the House Ways and Means Subcommittee on Oversight, said in a statement.“Under titanic stress and strain, American taxpayers and tax preparers must have more time to file tax returns," he said.
If you still need even more time, you can apply for an extension til October 15th, but should still try to pay by May 17 to avoid interest and or penalties.