Tax Day Moved Again: IRS Provides Details on Postponement to May 17th

On Monday, the IRS issued guidance with details on its postponement of the April 15th tax deadline for individuals. Their initial notice of extension of the deadline to May 17th lacked clarity as to whether the extended due date also applied to certain other items traditionally tied to the April 15th deadline, such as 1st quarter estimated tax payments, IRA contributions and HSA contributions. While Monday’s clarification notice did not provide for a full extension of all items historically due on April 15th, it did provide some necessary guidance.

Here’s what we know now:

Due May 17th, 2021
• 2020 federal individual income tax returns (IRS Form 1040, including all accompanying forms and schedules)
• 2020 Virginia individual income tax returns
• 2020 payment(s) due for 2020 tax liability (IRS & VA)
• 2020 extension to file for individual income tax returns (IRS Form 4868) – filing will extend your return due date to October 15th, 2021
• 2020 IRA and Roth IRA contributions
• 2020 HSA contributions

Due April 15th, 2021
• 2021 federal 1st quarter estimated tax payments
• 2020 federal trust and estate income tax returns (IRS Form 1041)
• 2020 federal C-Corporation income tax returns (IRS Form 1120)