March 29, 2021 2:12 am

Filing Deadline Extended for 2020 Individual Income Tax Returns

The IRS announced a one-month postponement for the deadline to file 2020 individual income tax returns (IR-2021-59). Instead of the April 15, 2021, deadline, it is now May 17, 2021 (May 15 is a Saturday). However, the tax preparation community is asking for more time, so watch for a possible change in the filing deadline.

The May 17, 2021, deadline does not apply to:

  • Those who live and work abroad; they automatically have a filing deadline of June 15, 2021.
  • Victims of the winter storms in Louisiana, Oklahoma, and Texas, who also have until June 15, 2021.

Check state and local income tax filing deadlines, which may or may not be the same as federal deadlines.

Caution: The extended filing deadline does not apply to estimated tax payments. The first installment of estimated taxes for 2021 is still due April 15, 2021.

Tax Glossary

Foreign tax credit

A credit for income taxes paid to a foreign country or U.S. possession. 401(k) plan. A deferred pay plan, authorized by Section 401(k) of the Internal Revenue Code, under which a percentage of an employee’s salary is withheld and placed in a savings account or the company’s profit-sharing plan. Income accumulates on the deferred amount until withdrawn by the employee at age 59?

More terms