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The IRS in January pushed back the start of tax season to Feb. 12. This gave the agency more time to prepare after December’s Covid relief bill, which included a second round of stimulus checks to Americans, that the agency was charged with delivering.

The Internal Revenue Service announced today 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. 

The delay comes as the IRS is dealing with a massive backlog that has left it unable to fully process roughly 24 million tax filings from individuals and businesses since the 2019 tax year. Accountants are still waiting on guidance on the 2020 tax season. 

Taxpayers who file an extension would still have an Oct. 15 deadline. The IRS said the deadline change only applies to federal taxes and payments. State deadlines can vary and are not always the same as the federal filing deadline.

In addition, taxpayers can also delay payment of any money owed to the IRS until May 17. If payers still need more time to submit their returns, they can request an extension (but not taxes owed) until Oct. 15 by filing Form 4868.

Estimated quarterly payments are still due on April 15. The IRS will be providing formal guidance in the coming days.

 

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Clergy Financial Resources serves as a resource for clients to help analyze the complexity of clergy tax law, church payroll & HR issues. Our professionals are committed to helping clients stay informed about tax news, developments and trends in various specialty areas.

This article is intended to provide readers with guidance in tax matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular tax technique. Every effort has been made to assure the accuracy of the information. Clergy Financial Resources and the author do not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular tax planning technique. If you are seeking legal advice, you are encouraged to consult an attorney.

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