New IRS Guidance Regarding Tax Due Date Change 2021

3/18/2021 - By David Uslan, CPA

Updated 4/1/21 - On Wednesday, March 17th, the U.S. Treasury Department and Internal Revenue Service extended the due date of individual Federal income tax returns, which also extended the deadline to make contributions to IRAs and HSAs from April 15, 2021 to May 17th, 2021. 

Click here to read the original announcement from the IRS.

Click here to read the additional guidance in Notice 2021-21. 

Three items of note:

  1. Only the due date of individual Federal income tax returns has been extended to May 17th. All other tax returns due April 15th are still due April 15th, e.g. 1120 and 1041.
  2. They did not extend the due date for quarterly estimated tax payments that are due April 15th, e.g. 1st quarter 2021 individual estimated tax payments are still due April 15th.
  3. Only the due date of the individual Federal income tax returns has been extended, not state tax returns and/or payments. State filing due dates vary and are not always the same as the federal filing due dates. 

Please contact your Saltmarsh tax advisor for the latest regarding the status of any state filing/payment relief.

QUESTIONS? 

If you have questions or would like additional information, please contact your Saltmarsh tax advisor or call (800) 477-7458.

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