The IRS has announced more details concerning the federal filing deadline for 2020 individual (1040) tax returns being extended until May 17, 2021.
Any payment that is due with the 2020 federal individual tax return is also extended to May 17, 2021. No penalties or interest will be due as long as any amount due is paid by May 17.
The deadline was also extended to May 17, 2021 for making a 2020 contribution for:
- An IRA account
- A health savings account (HSA)
- An Archer medical savings account (Archer MSA)
- A Coverdell education savings account (Coverdell ESA)
Taxpayers are not required to file any documentation to take advantage of this delay, and no interest or penalties will be assessed in connection with this extension.
The deadline was NOT extended for the following:
- First 2021 individual estimated payment is due on April 15, 2021
- Filing deadline for corporations (1120) and estates/trusts (1041) remains April 15, 2021
For more details, see the following on the IRS website:
- IRS News Release of March 29 – IRS extends additional tax deadlines for individuals to May 17
- IRS Notice 2021-21 – Relief for Form 1040 filers affected by Ongoing Coronavirus disease 2019 Pandemic