I’m totally confused – has the 2020 IRS tax filing deadline been postponed due to COVID or the winter storms or some other reason? Is April 15th the IRS individual tax deadline this year? And if it’s been extended, to what date?
The Internal Revenue Service recently extended the federal income tax filing due date for individuals for the 2020 tax year. The new filing date was extended from April 15, 2021 to May 17, 2021. The IRS stated the deadline extension was designed to accommodate individuals dealing with unusual circumstances related to the pandemic.
In Texas, due to the February winter storms, the IRS has extended to the tax deadline until June 15, 2021 to file various individual and business tax returns and make tax payments. This includes 2020 business returns, normally due on March 15 and individual and business returns normally due on April 15. The extension also applies to the first quarter estimated tax payment due on April 15. Taxpayers also have until June 15 to make 2020 IRA contributions. After the disaster declaration issued by FEMA, the IRS announced that affected taxpayers in all 254 Texas counties will receive this tax relief extension.
Individual taxpayers do not need to file any forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Texans that need additional time to file beyond the June 15 deadline can request a filing extension until Oct. 15 by filing Form 4868. Filing Form 4868 gives taxpayers until October 15 to file their 2020 tax return but does not grant an extension of time to pay taxes due.
If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty. For more information, go to the IRS website (www.irs.gov).
This article appears in April 2 • 2021.