The IRS announced late last week that the due date for filing 2020 federal individual income tax returns and making 2020 federal individual income tax payments is automatically postponed from April 15, 2021, to May 17, 2021.1
An extension to file beyond the new May 17, 2021 due date, may be obtained by filing Form 4868 by May 17, 2021. However, any federal income tax payments will still be due on May 17, 2021.
Note that first quarter 2021 estimated tax payments are still due on April 15, 2021. Additionally, the federal tax filing deadline extension does not apply to state tax payments2 or deposits or payments of any other type of federal tax.
The IRS will be providing formal guidance regarding the extension in the coming days. Bloomberg’s most recent coverage of state deadlines can be found here.
If you have any questions about the federal income tax due date extension, please contact one of the attorneys in Gould & Ratner’s Tax Planning and Compliance Practice.
[1] This extension does not affect the June 15, 2021 federal filing and payment deadline for individual residents and businesses of Texas, Oklahoma and Louisiana, that was announced earlier this year due to the impact of winter storms this February.
[2] Illinois has postponed the due date for filing 2020 individual income tax returns and making individual income tax payments from April 15, 2021, to May 17, 2021.
