IRS Extends Tax-filing Deadline to May 17
On Wednesday, March 17, 2021, the IRS announced that the April 15 tax deadline for 2020 individual tax returns is postponed until Monday, May 17.
This change DOES NOT include some other payments due April 15, such as quarter 1 estimated tax payments for 2021. It also does not extend the time to file C-corporation returns or trust returns for the calendar year 2020.
We do not yet know if this extension until May 17 includes the deadline for making HSA and IRA payments for 2020.
As was the case last year, the immediate question with a US filing deadline change is – will North Carolina follow? Also as was the case last year, we expect that North Carolina will move its filing deadline also, consistent with federal rules. The North Carolina taxable income computation begins with federal income, so it would be difficult for North Carolina to enforce an earlier deadline than the federal one.
DMJ continues to monitor for updates and will provide information as it develops.