In general, estimated tax payments are made quarterly to the IRS by people whose income isn't subject to income tax withholding, including self-employment income, interest, dividends, alimony or rental income. Taxes must be paid as taxpayers earn or receive income during the year, either through withholding or estimated tax payments. These payments are still due on April 15. This relief does not apply to estimated tax payments that are due on April 15, 2021. Most tax refunds associated with e-filed returns are issued within 21 days. The IRS urges taxpayers who are due a refund to file as soon as possible. Taxpayers should pay their federal income tax due by May 17, 2021, to avoid interest and penalties. Filing Form 4868 gives taxpayers until October 15 to file their 2020 tax return but does not grant an extension of time to pay taxes due.
#Taxes due date software#
15 by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Individual taxpayers who need additional time to file beyond the May 17 deadline can request a filing extension until Oct. Individual taxpayers do not need to file any forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.
Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. 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." "Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. "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. The IRS will be providing formal guidance in the coming days. 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.
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