Americans got extra time to file their tax returns this year, but the deadline is looming. Here’s what to do if you’re not ready.
The IRS imposes penalties for failing to pay taxes due and failing to file required tax returns. With the May 17 filing deadline coming up, it’s a good time to review the amount of the penalties.
The Treasury Department and IRS recently announced that the 2020 tax year federal income tax filing deadline for individuals would be moved to May 17, 2021. Here are the important, related details.
Due to the pandemic and an unprecedented backlog of tax returns waiting to be processed, the IRS has postponed the federal tax filing deadline to May 17, 2021.
The U.S. Treasury has extended the April 15 tax filing deadline to July 15 to give individuals more time to prepare and pay their taxes during the coronavirus outbreak. Treasury Secretary Steven Mnuchin said on Friday, March 20, “All taxpayers and businesses will have this additional time to file and make payments without interest or[ … ]