IRS announces extension of 2020 federal income tax due date

For those that have not yet filed their 2020 federal income taxes, I have good news for you.

Due to the economic impact of the Coronavirus in 2020, the Internal Revenue Service (IRS) has officially extended the federal income tax due date for individuals.

The IRS announced last week, an extension of this 2020 federal income tax deadline has been established from April 15th, 2021 until May 17th, 2021 without penalties and interest, regardless of the amount owed.

In the official statement released by the IRS, “This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” said IRS Commissioner Chuck Rettig. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”

Most refunds processing through electronic filing are processed within 21 days. However, it is important to note that this extension is only applicable to federal taxes. State filing and payment deadlines do not always coincide with deadlines established from the IRS, please check your individual state’s due date.

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