Legal Alert

IRS Extends Tax Deadlines

By Wendi L. Kotzen and Christopher A. Jones
March 18, 2021

Due Date for 2020 Tax Returns and Most Payments Extended to May 17, 2021; Estimated Taxes Still Due April 15, 2021

Due to lingering concerns related to the pandemic and material changes to the tax laws in the American Rescue Plan, the IRS announced that it is extending the due date for 2020 tax returns until May 17, 2021. This extension applies only to individual returns (i.e., Forms 1040), not business tax returns.

Additionally, the IRS announced that individual income tax payments for the 2020 year also are now due on May 17, 2021 instead of April 15, 2021. Payments made by May 17, 2021 will not be subject to any interest or penalties. Importantly, however, the extension does not apply to estimated tax payments due April 15, 2021.

Taxpayers do not need to take any action to take advantage of this extension. Taxpayers who need additional time beyond May 17, 2021 to file returns may request an automatic extension to October 15, 2021.

Many states—e.g., Pennsylvania—conform to federal due dates and therefore are automatically extended. However, this is not the case in every state, and taxpayers should be sure to timely file and pay in any states where the due date is not extended.

For questions about this extension or other tax issues, please contact a member of Ballard Spahr LLP’s Tax Group.

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This alert is a periodic publication of Ballard Spahr LLP and is intended to notify recipients of new developments in the law. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.

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