I.R.S. Delays Tax Filing, Payment Deadlines

The new deadline is May 17, 2021

Less than one month ahead of the traditional date, the I.R.S. has delayed the deadline for filing and paying taxes. The new deadline is May 17, 2021.1,2,3

The delay follows continued disruption from the COVID-19 pandemic and a late start to the tax-filing season, which the I.R.S. delayed to start on February 12. It also follows the agency's decision to postpone the deadline to June 15 for the states of Louisiana, Oklahoma, and Texas, still recovering from disastrous winter storm activity. Other states may now extend their local filing and payment deadlines.1,3

This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15.3

While this extension isn't unexpected, it may be welcome to many still coping with what is becoming one of the most complicated tax seasons in decades.  

It’s important to point out that our letter is for informational purposes only, so make sure to consult your tax, legal, and accounting professionals before modifying your tax-filing strategy.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Citations

1. CNBC.com, March 17, 2021

2. Bloomberg.com, March 17, 2021

3. IRS.gov, March 17, 2021