Federal tax day for individuals extended to May 17; state taxes still currently due 4/15

Good news for individuals who need more time to file their taxes: The Treasury Department and Internal Revenue Service (IRS) have announced that the due date for federal income tax filing for individuals for the 2020 tax year has been extended from April 15, 2021 to May 17, 2021. The due date extension applies to federal taxes only; at this writing California’s deadline for 2020 state tax filing remains April 15, 2021.

“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” said IRS Commissioner Chuck Rettig. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds.

According to Rettig, filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers receive any remaining stimulus payments they may be entitled to more expediently.

Individual taxpayers—including those who pay self-employment tax—who opt to postpone their federal income tax payments for 2020 until May 17 can do so without penalties and interest, per the IRS. After May 17, penalties, interest and additions to taxes will begin to accrue on any unpaid balances.

According to the IRS, any individual taxpayers requiring additional time to file beyond the May 17 deadline can request a filing extension until Oct. 15 by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. To apply for an extension on filing individual state income tax, click here.

For more info about the federal income tax filing extension for individuals, click here.