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IRS Extends Federal Tax Filing Deadline, California Follows Suit

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On March 17, 2021 the Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax.

This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15.

California taxpayers can also breathe a collective sigh of relief as the Franchise Tax Board announced California will extend the state tax filing and payment deadline for individuals to May 17, 2021. This extension also does not apply to estimated tax payments due on April 15, 2021.

Further details can be found at:

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Internal Revenue Service

And

Franchise Tax Board Homepage | FTB.ca.gov

Preston Young, Policy Advocate

Preston Young

This post was originally published on this site

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