IRS Extends Individual Income Tax Deadline

On Wednesday, March 17th, the IRS 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. There is no action needed to receive this extension. This postponement also applies to individual Federal income tax payments for calendar year 2020 that were originally due April 15, 2021.

Only the 2020 individual payment and filing due date has been pushed back. The following items, for example, are still due April 15th:

• First quarter Individual estimated tax payments for calendar year 2021
• Trust and Estate forms 1041 and payments
• Calendar year C Corporation forms 1120 and payments

We are still awaiting guidance from State tax agencies regarding State tax filing and payment deadlines.

Please continue to check back for additional and updated guidance. If you have any questions, please reach out to your Wilkins Miller advisor.