Taxpayers will have more time to get their taxes in order this year.
The Internal Revenue Service has pushed back the deadline for the tax filing season about one month to May 15 from April 15.
This will give taxpayers additional time to file their 2020 tax returns and pay any amounts owed to the IRS. Because May 15 falls on a Saturday, the final deadline for filers may be the following Monday.
The move from the IRS and Treasury Department comes after calls to extend the tax season increased following the passage of the $1.9 trillion American Rescue Plan, which meant the agency was tasked with sending another round of stimulus payments while processing tax returns and refunds.
The IRS in January pushed back the start of tax season to Feb. 12. This gave the agency more time to prepare after December Covid relief bill, which included a second round of stimulus checks to Americans that the agency was charged with delivering.
At the time, the tax collector kept the typical April 15 filing deadline, even though it meant a shorter than usual filing season.
In February, the agency did extend the tax filing deadline to June 15 for individuals and businesses in Texas, which was declared a disaster area by the Federal Emergency Management Agency after winter storms left residents without power.
At the time of this extension, we are still unaware of which states will follow suit with the IRS and extend their individual filing dates as well. This means that although your federal tax returns aren’t due on April 15th, your state returns may still be.
Keep an eye out for more details from NFS. As we find out more, we will let you know.
UPDATED 03-19-2021: MASSACHUSETTS Department of Revenue Announced they will follow the IRS extending due date of individual tax filings and payments to May 17th, 2021.