The IRS has officially extended the federal individual income tax filing and payment deadline from April 15 to May 17, 2021 as part of relief efforts around the COVID-19 pandemic. All taxpayers will have an additional month to file their federal income tax returns and pay any taxes due for the 2020 tax year. Taxpayers who are ready to file are encouraged to still file by April 15, especially those anticipating refunds.
This IRS guidance only applies to federal individual income tax filings, not state tax filings or payments. In addition, gift tax returns, 2021 first quarter estimated tax payments, trust returns and IRA contributions currently appear to continue to be due on April 15. State filing and payment deadlines vary by state and may change based on federal guidance. We expect additional guidance to follow that may address these items.
Our advisors are closely following COVID-19 relief efforts and will continue to publish insights to keep you informed. Visit our COVID-19 Resource Center for more resources. To discuss your tax situation, please contact an Anders advisor below.
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