The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.
This continue
s 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, taxpayers are urged 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.
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. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021.
By: Brenda Langdon
