That means taxpayers who owe money dont need to file a tax return until this date and if they owe money they dont need to make payments until then.
Can you file your taxes on the deadline date. However the IRS requires previous years taxes to be. You can still file for an extension if necessary. Though the deadline to file your 2020 taxes is May 17.
The July 15 deadline applies to estimated tax payments including self employment income. If youre late on filing your 2017 taxes you still have time to do so. TurboTax is available for e-file until October 15 when the IRS closes e-file for the 2020 tax year.
However some havent filed their 2020 tax returns or paid their tax due. Filing early means a quicker turnaround on your refund and getting any missing stimulus money faster. If you received stimulus payments in 2020 these are not taxable and do not reduce your tax refund in 2021.
If an individual taxpayer is owed a refund theres no penalty for filing late. On the other hand tax owed and not paid by May 17 2021 is subject to penalties and interest. You wont face any late filing penalties if youre expecting a refund dont owe taxes or if the IRS accepted your 2020 Tax Extension.
The Internal Revenue Service has several deadlines to file taxes and pay your taxes due so its important you are aware of all applicable dates. If you miss the April 15 - May 17 2021 - deadline to prepare and e-File a 2020 Tax Return or you e-Filed an extension by that date you can e-File your 2020 Taxes until October 15 2021. The federal income tax deadline has passed for most individual taxpayers.
Individual Income Tax Return by April 15 2021 or your. If youre still procrastinating on your 2020 income tax return you might want to know that filing before the Monday May 17 deadline could put money into your pocket. Individual tax returns due for tax year 2020.