Updated: March 22, 2021
THE INTERNAL REVENUE SERVICE HAS ANNOUNCED THAT INDIVIDUAL TAXPAYERS WILL BE GRANTED A LIMITED EXTENSION OF TIME UNTIL MAY 17, 2021 WITHIN WHICH TO FILE THEIR 2020 FORM 1040.
The extension only applies to individual taxpayers. The extension of time does not apply to first quarter 2021 estimated tax payments. Therefore an estimated tax payment may be required on April 15, 2021. State and Local income tax return due dates are established by each state’s taxing authority. Unless a state specifically extends the due date, that return is still required to be filed or extended by April 15, 2021. Note that the following Tri-State Department of Revenues have announced an extension for personal income tax until May 17, 2021: New York, New Jersey & Connecticut.
As of March 17, 2021, trusts, estates, partnerships and corporations are not entitled to the extension.
If you have any questions, please contact your MWE professional or call us at 516-747-2000.