CLIENT ALERT
Peter Beach | March 30, 2021
The IRS previously extended the federal income tax filing and payment deadline for individuals for the 2020 tax year to May 17, 2021. The IRS has now also extended deadlines for the following:
- IRAs and Roth IRAs. The deadline for making contributions to IRAs and Roth IRAs and the time for reporting and paying the 10% additional tax on 2020 distributions from IRAs or workplace-based retirement plans is now May 17, 2021.
- Health and Education Accounts. The deadline for making contributions to health savings accounts, Archer medical savings accounts, and Coverdell education savings accounts is now May 17, 2021.
- 2017 Refunds. Refund claims for the 2017 tax year, which are normally due April 15, are now due on May 17, 2021.
- Form 1040-NR. Foreign trusts and estates that are required to file Form 1040-NR have until May 17, 2021, to file and pay any tax due.
It is important to note that the IRS has still not extended the April 15 estimated tax payment due date. Those payments are still due on April 15, 2021.