On Wednesday, March 17th, the US Treasury Department and Internal Revenue Service (IRS) announced an extension of the individual federal tax filing deadline to May 17, 2021. Governor Pritzker followed suit announcing that his administration is extending the Illinois individual income tax filing deadline to May 17, 2021, as well.
“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” said IRS Commissioner Chuck Rettig. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”
The filing extension does not apply to 2021 estimated tax payments that are due on April 15, 2021. Additionally, corporations and trusts tax filing deadlines remain unchanged and are still due on April 15, 2021.
Eder, Casella & Co. recommends that our clients continue to prepare and send all documents as originally planned to avoid delays. As always we are here to help. Please let us know if you have any questions or need additional clarification.