WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.
“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. “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.”
The deadline to file Form 1120-Scorp and Form 1065 Partnership tax extension is today, March 15th, and it’s not too late to e-file an extension with www.Extensiontax.com if you need more time. Breaking a tax deadline will result in substantial fines and interest.
With less time to E-file Form 7004 for Tax Year 2020, the safest way to get it completed on time and escape the pitfalls of Interests & Fines is to use www.Extensiontax.com – A Think Trade Inc, product, an IRS Approved E-file Service Provider for E-filing Federal Extension Tax Forms & Excise Tax Forms.
Tax deadlines can sneak up on you, and nothing is more aggravating than having to pay a fine you could have avoided. Save each relevant filing date to your calendar and stay one step ahead of the IRS. So when is the 2021 “tax day”? April 15, 2021.
The IRS has extended the deadline for filing and paying business returns normally due on March 15th and April 15th to victims of the Texas winter storms until June 15th, 2021.
So when do you have to pay your taxes? If you’re mailing your return, the IRS considers it “on time” if it’s properly addressed, has enough postage, and arrives in the mail before the end of business on the filing deadline. Otherwise, you have until midnight on your tax filing deadline day to e-file your return.
So when are the tax extensions for 2021 due? You have until the due date of your taxes to file for an extension. Individuals can still file for a tax extension on April 15 if they want to. The same is true for businesses: S corporations and partnerships have until March 15 to file for an extension, while C corporations have until April 15 to file.
Here are the two important deadline details:
March 15 Deadline:
The due date for S corporation and partnership tax returns: The deadline to file your S corporation tax return (Form 1120-S) or partnership tax return (Form 1065) is March 15th, 2021.
The deadline to file an extension for S corporation and partnership tax returns is also March 15.
Forms:
S Corporation Income Tax Return (Form 1120S)
Return of Partnership Income in the United States, Form 1065
April 15 Deadline:
Individual tax returns are due on April 15th: Individual tax returns must be filed by April 15 (Form 1040, 1040A, or 1040EZ). The April 15 deadline also applies to sole proprietors who file Schedule C on their personal tax returns. The deadline to file for an extension to file your individual tax return is also April 15.
The due date for C corporation tax returns: The deadline for filing C corporation tax returns is today (Form 1120). The deadline to file for an extension to file your corporate tax return is also April 15.
Forms:
U.S. Corporation Income Tax Return (Form 1120)
Application for an Automatic Extension of Time (Form 7004)
The IRS has already begun accepting returns for 2020 since February 12, 2021. That being said, we support all major Extension Tax Application filing and are processing all the extension tax forms:
Form 4868 – Automatic Extension of Time To File Personal Income Tax Return
Form 7004 – Automatic Extension of Time To File Business Income Tax Return
Form 8868 – Automatic Extension of Time To File Exempt Organization Tax Return
If you need additional time, federal extension tax reporting is now easy, fast, and secured at ExtensionTax.com. You don’t have to be an expert, applying for an extension at ExtensionTax.com. It’s now made easy, 100% Fast, Safe, and Accurate since it’s an IRS-authorized e-file website to extend the income tax due dates in simple steps and on the go. You will also receive an instant TEXT alert on your extension return status in just minutes once IRS accepts your tax return.
Need Help? Free product support from our Customer Care representatives is just a phone call away. Talk to our Tax Experts, at (866) 245 – 3918 or write to support@extensiontax.com (available 9:00 a.m. – 6:00 p.m. Eastern) or take a look at our blogs, FAQ’s. It’s all just a click away.
The Internal Revenue Service today reminds tax-exempt organizations that certain forms they file with the IRS are due on July 15, 2020. For organizations that operate on a calendar-year basis, this includes the 2019 Form 990 they would have normally filed on May 15. The upcoming July 15 deadline applies to many forms that were originally due May 15, including:
Form 990-series annual information returns (Forms 990, 990-EZ, 990-PF, 990-BL)
Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990-EZ
Forms 8871, Political Organization Notice of Section 527 Status
Form 8872, Political Organization Report of Contributions and Expenditures
Form 990-T, Exempt Organization Business Income Tax Return
Form 1120-POL, Political Organization Filing Requirements
Form 4720, Private Foundation Excise Tax Return
Tax-exempt organizations that need additional time to file beyond the July 15 deadline can request an automatic extension by filing Form 8868, Application for Extension of Time to File an Exempt Organization Return. An organization will be allowed a six-month extension beyond the original due date. For a calendar-year 2019 return, this means the extended deadline would be Nov. 15, 2020. In situations where tax is due, extending the time for filing a return does not extend the time for paying tax.
The IRS urges all organizations to take advantage of the speed and convenience of filing their returns electronically when possible.
The Treasury Department and the Internal Revenue Service have provided special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can’t file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.
July 15, 2020 is just a week to go and less time left, if you’re still in need of additional time apply for extension of time using the below forms;
Form 7004 : Business Income Tax Extension
Form 4868: Personal Income Tax Extension
Form 8868 : Exempt Business Income Tax Extension
Form 2350: Personal Income Tax Extension for Out of Country filers.
