| Due to the Internal Revenue Service’s (IRS) backlog related to the COVID-19 pandemic and tax law changes recently passed since the start of the pandemic, the Treasury Department and IRS announced on March 17, 2021, that they are providing a short extension of the deadline for individuals to file their federal income tax returns and pay any 2020 balance due. According to the announcement, the April 15, 2021, due date for filing and 2020 balance due payments is extended one month to May 17, 2021. This relief applies only to individual tax returns and 2020 balance due payments. The April 15, 2021, first quarter estimated payments are not covered by the relief. The extended due date remains October 15, 2021, for returns originally due April 15, 2021. For taxpayers with a 2020 balance due on April 15, 2021, the extension does provide a one-month payment deferral. First quarter estimated payments continue to be due April 15, 2021. Taxpayers expecting an overpayment or refund, however, should consider filing their returns as early as possible, as the IRS continues to experience delays in processing credits and refunds. PA UPDATE: The Department of Revenue today (March 18, 2021) announced the deadline for taxpayers to file their 2020 Pennsylvania personal income tax returns and make final 2020 income tax payments is extended to May 17, 2021. This means taxpayers will have an additional month to file from the original deadline of April 15. LOCAL TAX RETURNS: As of this email, local tax collectors in Pennsylvania have NOT changed the filing deadline to May 17. We will be monitoring this situation and provide updates as they become available. Although the federal and state government has extended the tax filing deadline, we ask that you please provide your advisor with your tax information as soon as possible in case there are any underlying issues, and so we can ensure your tax service needs are met in a timely manner. If you have any questions or concerns about this extended tax deadline, please contact your Urish Popeck advisor. |
Tag: Filing
IRS and PA Officially Extend Filing and Payment Deadlines to July 15
Extension Updates:
IRS and PA Officially Extend Filing and Payment Deadlines to July 15
- Federal Filing and Payment Extension Through July 15, 2020 – The automatic extension from April 15th to July 15th applies to individuals, corporations and trusts/estates, the first quarter 2020 estimate tax filing, and any associated tax payments. This new deadline allows for all taxpayers and businesses to have additional time to file and make payments without interest or penalties. See IRS notice with details here: https://www.irs.gov/newsroom/payment-deadline-extended-to-july-15-2020
- Pennsylvania Extends Personal Income Tax Return Filing Deadline to July 15, 2020 – The Department of Revenue today announced the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020. This means taxpayers will have an additional 90 days to file from the original deadline of April 15. The Department of Revenue will also waive penalties and interest on 2019 personal income tax payments through the new deadline of July 15, 2020. This extension applies to both final 2019 tax returns and payments, and estimated payments for the first and second quarters of 2020. See PA announcement with precise detail here: https://www.media.pa.gov/Pages/Revenue-Details.aspx?newsid=307
- Other State and Local Tax Deadline Extensions Have NOT Been Finalized. Our team is monitoring this evolving situation as well as developments from all agencies around economic stimulus proposals. We will distribute updates and details as they become available. For the most recent updates, please check our website: https://www.urishpopeck.com/news/
- Office Update – We are continuing to operate our practice remotely. Moving forward, all processing of tax returns will be completed and distributed electronically whenever possible. We will utilize our secure data website (www.securetaxdata.com) to deliver PDF copies of completed tax returns and ask that you use this same website to upload and transmit documents to us whenever possible. Documents requiring signatures will be provided via email, utilizing e-signature applications. We strongly encourage the electronic transmission of information. We are still accepting paper copies of documents, but due to mail delivery changes and potential delays, we cannot ensure timely access to the information. If other arrangements need to be made, please contact your engagement professional directly.