Today, the Treasury Department and the Internal Revenue Service provided special tax filing and payment relief to individuals in response to the COVID-19 pandemic. The filing deadline for tax returns has been extended from April 15 to May 17, 2021. However, the IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who cannot file by the May 17, 2021 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.
What’s in the filing and payment relief?
The 2020 income tax filing and payment deadlines for individual taxpayers who file and pay their federal income taxes on April 15, 2021, are automatically extended until May 17, 2021. This relief applies to individual returns only. It does not apply to 2021 estimated tax payments.
This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify. Penalties and interest will begin to accrue on any remaining unpaid balances as of May 17, 2021. Taxpayers will automatically avoid interest and penalties on the taxes paid by May 17, 2021.
Individual taxpayers who need additional time to file beyond the May 17, 2021 deadline can request an extension by filing Form 4868 through your tax professional, tax software or using the Free File link on IRS.gov.
State tax returns
This relief only applies to federal income tax returns and payments (including on self-employment income) that would otherwise be due April 15, 2021. State tax payments and deposits or payments of any other type of federal tax are not covered. Taxpayers will also need to file income tax returns in 42 states plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline.
The IRS urges taxpayers to check with their state tax agencies for those details. More information is available at https://www.taxadmin.org/state-tax-agencies.
Published on March 17, 2021