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March 17, 2021 at 03:48 PM
What You Need to Know
- The tax deadline has been extended from April 15 to May 17.
- The pandemic “continues to impose titanic strain on the agency and on taxpayers,” Neal and Pascrell told the IRS.
- Oversight Subcommittee will convene a hearing Thursday to discuss the 2021 tax filing season.
The Internal Revenue Service has extended the 2021 tax filing deadline from April 15 to May 17.
“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 in a statement.
“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,” Rettig said.
Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15 to May 17, without penalties and interest, regardless of the amount owed, the IRS said.
House Ways and Means Committee Chairman Richard Neal, a Massachusetts Democrat, and Oversight Subcommittee Chairman Bill Pascrell, D-N.J., applauded the decision. “This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” the lawmakers said Wednesday in a statement.
Related: 12 Tax Tips for Maximizing Stimulus Package Benefits
