The Internal Revenue Service announced yesterday March 17, 2021 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.
May 17 is the new federal 2020 deadline to file AND pay, and you don’t need to take any additional action. If you file for federal extension until October 15, your new extension date will only apply to filing, not payment.
Estimated tax payments that were previously due April 15 will still be due April 15.
States, including Illinois, have not confirmed whether they are conforming with the federal filing deadline.
Marnell Financial will keep you informed of filing deadline updates as they become available.