IRS Moves 1040 Due Date to May 17

Renner Individual News; March 19, 2021—Joan M. Renner, CPA, CGMA

Amid the second tax season of the pandemic, the IRS is giving individual taxpayers another month to file their 2020 returns.  While many taxpayers will benefit from this extra time, others will not.  How will this change affect your tax filing deadlines?

More time to file federal returns

The new due date for 2020 1040s is automatically moved to May 17, 2021.

You can still request an extension of time to October 15 by filing an extension request using Form 4868. Extension forms are now due May 17, 2021.

Remember, this is an extension of time to file, not an extension of time to pay. Penalties for late payment will begin May 17.

IRS recommends filing early and electronically

The IRS reminds taxpayers that the sooner they file, the sooner they will receive any refunds due. The IRS also encourages electronic filing with direct deposit to help taxpayers avoid paper processing and mail delays. According to the IRS, taxpayers following this recommendation can expect their refunds to be deposited directly into their bank accounts within 21 days of e-filing.

No change for federal estimated payments

The IRS is NOT giving a break to individual taxpayers who need to pay 2021 estimated tax payments. As of now, the IRS advises that first quarter 2021 estimated tax payments are still due April 15.

State filing deadlines may not be moved

  • D.C. still due April 15. The District of Columbia has not moved its individual filing deadline, either. 2020 D.C. individual returns and 2021 first quarter estimated payments are still due April 15.
  • If you file a Virginia return, May 1 is your due date. Virginia has not moved the deadline for filing individual returns. 2020 Virginia individual returns and 2021 first quarter estimated payments are still due May 1.
  • Maryland taxpayers get a break. 2020 Maryland individual returns and the first two 2021 quarterly estimated payments are due July 15, 2021.

What this means for you

In short, if you pay estimated payments or file a D.C. or Virginia return, you are NOT off the hook until May 17.

We’re here to help

The Renner and Company team will continue to work to help you meet your April 15 and May 1 filing deadlines as well as May 17 and beyond.

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