Wednesday, March 17, 2021

IRS pushes April 15 U.S. tax deadline to May 15

 

  • The IRS plans to push back the tax filing deadline about one month to May 15, CNBC confirmed Wednesday.
  • That will give taxpayers more time to file tax returns and settle bills.
  • The tax season was scheduled to end April 15.
a close up of a traffic light hanging from the side of a building: The Internal Revenue Services offices in Washington, D.C.© Provided by CNBC The Internal Revenue Services offices in Washington, D.C.

Taxpayers will have more time to get their taxes in order this year.

The Internal Revenue Service is planning to push back the deadline for the tax filing season about one month to May 15 from April 15, CNBC confirmed.

This will give taxpayers additional time to file their 2020 tax returns and pay any amounts owed to the IRS. Because May 15 falls on a Saturday, the final deadline for filers may be the following Monday.

The move from the IRS and Treasury Department comes after calls to extend the tax season increased following the passage of the $1.9 trillion American Rescue Plan, which meant the agency was tasked with sending another round of stimulus payments while processing tax returns and refunds.

The plan, which was signed into law by President Biden on March 11, the middle of tax season, made a number of changes that added to an already complex filing year for many. The bill made the first $10,200 of unemployment income tax free for filers with 2020 adjusted gross income of

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IRS pushes tax deadline to May 15 from April 15

The IRS and Treasury didn't respond to CNBC's request for comments on the extension.

The IRS in January pushed back the start of tax season to Feb. 12. This gave the agency more time to prepare after December Covid relief bill, which included a second round of stimulus checks to Americans that the agency was charged with delivering.

At the time, the tax collector kept the typical April 15 filing deadline, even though it meant a shorter than usual filing season.

In February, the agency did extend the tax filing deadline to June 15 for individuals and businesses in Texas, which was declared a disaster area by the Federal Emergency Management Agency after winter storms left residents without power.

More from Personal Finance:

Here's how the $10,200 unemployment tax break works

Here's when direct deposits of stimulus checks will be available

Don't file amended tax return to get unemployment tax break, IRS says


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