Less than one month away from the traditional date the I.R.S. has delayed the deadline for filing and paying taxes. The new deadline is May 17, 2021.
This delay follows the continued disruption from the COVID-19 pandemic and a late start to the tax-filing season. The I.R.S. delayed the start to February 12th. This follows the agency’s decision to postpone the deadline to June 15th for the state of Texas, that was hit with severe winter weather. Other states may now extend their local filing and payment deadlines as well.
One part this extension does not apply to is estimated tax payments. Those are still due on April 15th.
While this extension isn’t unexpected, it may be a welcome decision for many still coping with such a complicated tax season. COVID-19 has thrown a wrench in many things, tax season is no different.
Remember this blog is for informational purposes only, make sure to consult your tax, legal, and accounting professionals before modifying your tax strategy. If you need assistance finding these professionals reach out to us.