On March 17, the IRS and U.S. Treasury announced that the deadline for individual tax returns will change from April 15, 2021 to May 17, 2021.
This new deadline is not as straightforward as it seems. Few states have extended the deadline and the change only refers to individual Form 1040.
Currently, all other April 15 deadlines are still in effect. This includes first quarter estimated tax payments, calendar year corporations, estates, trusts, 5500s, and not-for-profits. Any taxpayers who pay quarterly estimated payments should still file and pay by April 15, 2021.
Even if you are filing individual Form 1040, you should still submit your information to us as soon as possible. With new and changing tax laws, additional tax planning and processing time may be necessary.
We will continue to monitor the latest tax guidance and will keep you updated on any new information as it becomes available.