Tax Deadline 2021: IRS pushes April 15 U.S. tax due date to May 17

See the calendar and PANIC that taxes are due? Take a breath.

The Internal Revenue Service (IRS) announced last month that the filing deadline would be pushed back to May 17, about a month from the typical date of April 15.

“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 “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”

“Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021,” the IRS said. “Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.”

See the calendar and PANIC that taxes are due? Take a breath.

The Internal Revenue Service (IRS) announced last month that the filing deadline would be pushed back to May 17, about a month from the typical date of April 15.

“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 “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”

“Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021,” the IRS said. “Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.”

Does the new IRS May 17 tax deadline delay mean I can wait to pay my taxes, too?

Yes, without penalty. According to the IRS, "individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed."

If you need time beyond May 17, you can file a tax extension, which gives you more time to complete and send in your paperwork to the IRS. The IRS said individual taxpayers do not need to file forms or call the IRS to qualify for the extension.

The new extension doesn't get you off the hook for estimated tax payments, however. The IRS said the May 17 deadline does not apply to those who make estimated payments, which are still due on April 15.

 

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