Tax filing 2021: when is the last day to file in May?
The IRS delayed the tax filing deadline again this year due to the covid-19 pandemic, but now for the majority of Americans Tax Day 2021 is just about here.
The normal Tax Day of 15 April was postponed for a second year in 2021 to give taxpayers, tax preparers and the IRS time to take into account the numerous changes made to the federal tax code with the passing of the American Rescue Plan.
Taxpayers have just a few days left to get their papers in order and file or ask for an extension until 15 October. With the exception of those who were affected by severe weather events, filers will need to get their tax return to the IRS by Monday 17 May.
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How to request an additional extension from the IRS
With the proximity of the current deadline to file, the IRS is unlikely to push back the filing date any further. However, if you still aren’t prepared to file, individuals who would like an extension can do so by submitting “Form 4868” by 17 May according to the IRS. This can be done through your tax professional, tax software or using the IRS’ Free File. By sending an electronic request using Free File, individuals can have their filing deadline postponed to 15 October 2021. The Free File service is available to any taxpayer who has earnings of less than $72,000 annually.
Beware, you still need to pay any taxes due by 17 May
Even though you ask for more time to file your tax return that doesn’t mean you get an extension on any underpayment of taxes during the year. You will need to estimate any money that you owe to IRS and pay that sum by 17 May, failure to do so will incur interest and penalties. If you are unsure about how to make an estimate, always contact a tax professional.
Those taxpayers “serving in a combat zone or a qualified hazardous duty area” or those “living outside of the United States”, should be aware that they may be subject to different rules.
Federal tax filing due to severe weather has been extended for taxpayers in some states
The IRS has given some taxpayers a little more time to file in areas hit by severe weather and where FEMA made a disaster declaration, though our advice would always be to file as soon as you can gather together all the necessary paperwork. Check the link to the IRS press release below for your state to see how it affects your filing this year.
How can I check my refund?
The IRS offers a couple ways that you can check the status of your refund. You an use the agency's Where's My Refund? online tool or you can download the IRS2Go app to check your refund status.