On March 17th the IRS extended the federal income tax filing and payment deadline for individuals for the 2020 tax year from April 15, 2021, to May 17, 2021.

The IRS has now extended the following deadlines to May 17, 2021:

IRAs and Roth IRAs.   Making contributions to IRAs and Roth IRAs, the time for reporting and paying the 10% additional tax on 2020 distributions from IRAs or workplace-based retirement plans.   Note that the deadline for filing Form 5498 (IRA Contribution Information) series returns related to these accounts that is generally due June 1, 2021, is extended to June 30, 2021.

Health and education accounts.   Making contributions to health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs) and Coverdell education savings accounts.

2017 Refunds. Making refund claims for the 2017 tax year, which are normally due April 15. Taxpayers must properly address, mail, and ensure the refund claim (e.g., return) is postmarked on or before May 17, 2021.

Form 1040-NR. Returns of foreign trusts and estates with federal income tax filing or payment obligations that file Form 1040-NR.

Taxpayers do not have to file for an extension to obtain this postponement to May 17th.

Deadlines NOT extended. The IRS has not extended the April 15, 2021 estimated tax payment due date. These payments are still due on April 15, 2021.

Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021.

For more information and guidance on tax filing deadlines and tax preparation, contact our office at 315.424.1120 or info@gsacpas.com.

ABOUT GROSSMAN ST. AMOUR CPAs PLLC
Grossman St. Amour CPAs PLLC virtual doors are open and we are assisting clients with audit, accounting, and tax issues as well as matters relating to COVID-19.  As a certified public accounting firm located in central New York, Grossman St. Amour CPAs has been in business for 64 years.

Grossman St. Amour CPAs provides businesses and individuals with accounting, audit, taxation, business planning and valuation, financial planning, investment consulting, and fraud examination and deterrence services.  For more information about how Grossman St. Amour CPAs PLLC can be of service to you, contact our professionals.