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IRS Extends Individual Return Filing Date

Article Highlights:

  • IRS Announcement 
  • Limited to Individual Tax Returns 
  • Tax Due Payments 
  • Further Extensions 
  • 2021 Estimated Tax Payments Not Extended 
The IRS has announced they are extending the filing due date for 2020 individual tax returns from April 15, 2021, to May 17, 2021. This was meant to be a one-month extension, but since May 15 fell on Saturday it was extended to the next business day which is May 17, 2021.

This extension only applies to individual 1040 and the 1040-SR tax returns. It extends not only the filing deadline but also the payment of any tax due including self-employment tax. Thus penalties, interest, and additions to tax for the individual returns will not begin to accrue on any remaining unpaid balances until after May 17, 2021.

The extension to May 17 is automatic. For additional time beyond May 17, a traditional extension can be filed any time before May 17 extending the due until October 15, 2021. As a reminder, the additional extension only extends the time to file, not the time to pay any tax due. The extension requires an estimate of any remaining tax due to be paid with the extension.

Caution: The IRS did not extend the due of the first installment of the 2021 estimated tax payment which continues to be April 15, 2021.

Although it is not known at this time if all states with income taxes will also extend their deadlines, but it is anticipated they will.

Even though the IRS has extended the deadline, clients are encouraged to file as early as possible since many will be receiving refunds and others will need to file 2021 estimated tax payments by the original April 15, 2021 deadline.

Please give this office a call if you have any additional questions.


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Get to Know Prestige Accounting Services Group (previously Prestige Wealth Accounting Group)


Offices in Flemington, NJ and Califon, NJ

Our Mission: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we are on a mission to redefine the tax experience for individuals and small businesses. With a focus on personalized service, strategic planning, and expert guidance, we aim to empower our clients to succeed financially with confidence and ease.

Expertise in Action: With a wealth of experience and a team of dedicated professionals, we specialize in individual and small business tax preparation. While we excel in all areas of taxation, our passion lies in serving the unique needs of small business owners in New Jersey. We understand that small business taxation requires specialized knowledge and attention to detail, which is why we go above and beyond to ensure our clients receive the guidance and support they deserve.

Tailored Solutions for Every Client: Whether you're a high-net-worth individual seeking comprehensive tax planning or a small business owner in need of accounting and bookkeeping assistance, we have the expertise to meet your needs. Our team takes the time to understand your specific situation and develop customized solutions that align with your goals and objectives.

Why Choose Us?: What sets us apart from other New Jersey tax firms is our commitment to excellence and innovation in the field of taxation. We don't just prepare tax returns; we provide strategic insights, proactive planning, and actionable advice to help our clients achieve their financial goals. With a team of two CPAs, an EA, and an ERO, we have the expertise and resources to deliver exceptional service and results.

Your Success is Our Priority: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we measure our success by the success of our clients. We are dedicated to building long-lasting relationships, providing unparalleled service, and helping our clients thrive in today's ever-changing tax landscape.

We can't wait for you to experience the Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) difference.

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