On Wednesday, March 17, 2021, the Internal Revenue Service announced that individual tax returns (Form 1040) originally due on April 15, 2021 will now be due on May 17, 2021.
In an already messy filing season due to the impacts of the pandemic and late tax law changes, the move is intended to ease some of the delays caused by these factors. Unfortunately, the IRS has only extended individual tax returns at this time. The IRS has not changed any other filing dates including 2021 estimated tax payments, entity tax returns, etc. We expect the IRS to provide further guidance and modify the estimated tax due date. We will distribute information as it becomes available.
Lastly, this extension currently only applies to Federal returns as does not affect any state filings. We further anticipate that most states will conform to this change since electronic filing requirements are tied to the Federal filing.
We will continue to work towards normal preparation timelines. However, the changing environment has created some unexpected delays in these timelines. We sincerely appreciate everyone’s patience and understanding as we work through this rapidly changing environment.
If you have any questions or need any additional information, please do not hesitate to contact us.