The deadline for filing 2020 tax returns has been extended to May 17, 2021, the Treasury Department and IRS announced Wednesday.
Normally taxes are due on April 15, but this year due to exceptional circumstances, the federal government has pushed back the deadline. Since May 15 falls on a Saturday, the due date was moved to the next business day, Monday, May 17. Taxpayers do not have to file any special forms or request this extension; it is automatic for everyone.
The IRS says that any tax payments normally due on April 15 must be submitted by May 17. That means those who owe income taxes for 2020 will have an extra month to pay Uncle Sam without any penalties or interest.
However, self-employed workers and others who make quarterly estimated tax payments will still have to make those payments on April 15, as normally scheduled.
If you are due to receive a tax refund, you should file your tax return as soon as possible to get that money back.
Military Personnel Stationed Outside the U.S.
Military personnel assigned outside the U.S. or Puerto Rico normally receive a two-month filing extension. There has been no guidance from the IRS yet regarding how this new one-month blanket extension affects the military community.
However, the normal two-month military extension only grants an extension on the filing of taxes, not paying them. So in a normal year, a military member deployed OCONUS must pay any taxes due by the regular filing date of April 15, even though they don't need to submit a return until two months after that time.
This year, military members will have to pay any taxes due to the government by May 17. However, those stationed overseas may have the two-month filing extension added to the one-month blanket extension, depending on how the IRS rules.
Military personnel serving in a designated combat zone are granted a 180-day extension on the filing and paying of their taxes.
To be safe, however, military members should check with their command's tax officer for individual guidance.
State Taxes
This extension only applies to federal tax liability, not state taxes. Some states already have announced they will follow the federal government's lead and grant extensions for filing and paying taxes this year. Check with your individual state to determine your situation.
States Affected By Natural Disasters
Taxpayers in Louisiana, Oklahoma and Texas will have until June 15, 2021, to file and pay their taxes due to the federally declared disaster related to the winter storms those states experienced in February.
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