This year’s tax filing and payment deadlines have been extended to July 15 from April 15 for many taxpayers. Here is everything you need to know about Tax Day, 2021.
This doesn’t happen in 2021, however, when you’ll be filing your 2019 tax return. July 15 falls on a Wednesday and it’s not a holiday, so the filing deadline for your 2019 personal tax return is indeed July 15, 2020.
When is Tax Day?
The Internal Revenue Service has extended the deadline for filing individual tax returns for 2019 to July 15 from April 15 in response to the coronavirus pandemic.
Millions of taxpayers now have an extra three months to file returns and pay what they owe the IRS for 2019.
The deadline for making contributions to individual retirement accounts and Roth IRAs is now July 15; returns with automatic filing extensions are still due Oct. 15, and there are ways for filers to delay automatic tax payments previously scheduled for April 15.
The IRS also said it generally won’t start new audits, and will suspend in-person meetings with taxpayers under exam through July 15. It also won’t submit the names of delinquent taxpayers to the State Department for potential restrictions on their passports.
Deadlines in Calendar Year 2021 for 2020 Returns
Deadlines for returns are almost invariably in the spring, with extensions available until the fall:
Individual income tax returns
July 15 falls on a Wednesday in 2021, when you’ll be filing your 2019 tax return, and it’s not a holiday, so the filing deadline for your 2019 personal tax return is indeed July 15, 2020.1 The Internal Revenue Service began processing these tax returns on Jan. 27, 2021.2
Estimated tax payments for the 2019 tax year (IRS Form 1040)
These were due in 2019 on April 15, June 15, and Sept. 15. They’re mostly payable during the tax year they apply to. An exception is the fourth and final estimated payment for the 2019 tax year. That’s due on Jan. 15, 2021.3
Estates and trusts income tax returns (IRS Form 1041)
These are due July 15, 2021. Additional time can be requested by filing Form 7004.4
Gift tax returns (IRS Form 709)
These are usually due April 15 in the year after the gift was made. For 2021, it’s July 15. Requesting a federal income tax return extension automatically extends this date as well until Oct. 15.
C-corporation income tax returns (IRS Form 1120)
These are due July 15, 2021, for C corporations that operate on a calendar year. The extended deadline is Oct. 15, 2021.
The deadline for C corp returns is the 15th day of the fourth month following the end of the corporation’s fiscal year if the corporation operates on a fiscal rather than a calendar year.3
1. Do I have to file a special form to use the July 15 deadline?
No. If you file a return or an automatic extension request and pay your tax due by July 15, no interest or penalties will be due.
2. Will my tax refund be delayed until July 15?
No. The IRS is processing refunds now, as in a typical tax season. To check the status of your refund, visit Where’s My Refund? at Irs.gov.
3. I owe a 10% penalty on a withdrawal I took from a retirement account last year. Is the deadline to pay it now also July 15?
Yes, this deadline is postponed as well.
4. I see that my first-quarter estimated tax payment due on April 15 is now due on July 15. What about the second-quarter payment, due June 15?
The second-quarter estimated tax payment has been delayed to July 15.
You’ll probably be hit with a financial penalty if only extra interest charges if you don’t submit your return and any payment due by the deadline.
But the IRS should accept your money and your tax return and that will be the end of it unless there’s another problem.
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