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State, federal tax filing deadline pushed back to May 17

By Tom Rivers, Editor Posted 20 March 2021 at 10:17 am

The state and federal governments both announced this week the tax filing deadline would be moved back about a month from April 15 to May 17.

The U.S. Treasury Department and Internal Revenue Service announced on Wednesday it was extending the filing due date for individuals for the 2020 tax year.

“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,” IRS Commissioner Chuck Rettig said in a statement. “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.”

Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15 to May 17, without penalties and interest, regardless of the amount owed, the IRS and Treasury Department said.

This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.

New York State followed the federal government’s lead and announced on Friday it would also extend the filing deadline until May 17.

“At the Governor’s direction, the Department of Tax and Finance will be extending the New York State income tax deadline to May 17 to align with the federal decision to do the same,” said Robert F. Mujica, Jr., the state’s budget director. “This 30-day extension provides New Yorkers still coping with the complications of the Covid-19 pandemic ample time to file. This will shift approximately $6 billion of revenue from April to May and the State will make any necessary adjustments to cash flow.”