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IRS Extends Certain Tax Filing and Payment Deadlines to May 17

4/1/2021 - By David Uslan, CPA

The Internal Revenue Service confirmed in an announcement on March 29, 2021, that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March 17, that the federal income tax filing due date for individuals for the 2020 tax year was extended from April 15, 2021, to May 17, 2021.

Notice 2021-21 provides details on the additional tax deadlines which have been postponed until May 17.

The deadline extensions include:

  • Time to make contributions to IRAs and health savings accounts
  • Time for individuals to make 2020 contributions to their individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs)
  • Time for reporting and payment of the 10% additional tax on amounts includible in gross income from 2020 distributions from IRAs or workplace-based retirement plans
  • Form 5498 series returns related to these accounts to June 30, 2021
  • 2017 unclaimed refunds
  • 2017 Federal income tax returns
  • Foreign trusts and estates with federal income tax filing or payment obligations, who file Form 1040-NR
  • 2021 Annual Filing Season Program (AFSP) deadline postponed

Notice 2021-21, issued March 29, 2021, does not alter the April 15, 2021, deadline for estimated tax payments; these payments are still due on April 15.

Updates regarding tax relief as a result of the COVID-19 can be found here

QUESTIONS? 

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

Visit our COVID-19 RESOURCE HUB for ongoing updates and information.


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