Taxpayers still need to be ready for an April deadline despite IRS extension to May 17
3/18/21 – Erpelding & Voigt is closely following the latest press release from the Internal Revenue Service stating that the Treasury Department and the IRS will delay the 2021 individual federal tax filing deadline to May 17, 2021. The postponement only applies to individual federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2021. This does not apply to state tax payments, deposits, or payments of any other type of federal tax. As of now, state deadlines may remain the same (Iowa tax deadline currently is April 30, 2021, and Minnesota’s is April 15, 2021).
State filings are not the only deadline you need to watch for. There is also no extension for:
- Any non-individual tax filings are due on April 15, such as calendar C-Corporations or Trusts.
- Quarterly estimates are due on April 15.
- State tax payments or deposits.
- Deadlines to fund IRAs and HSAs.
While this is great news for some, since our state tax filing deadline may remain the same, we recommend that you still gather and send in all tax-related documents as originally planned.