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.”