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2020 US Tax Deadline Extended for Individuals

The US Treasury Department’s Internal Revenue Service has postponed the federal income tax filing date, which is now May 17, 2021.

Here are the topline things you should know about the extension:

  1. This extension is for individuals
  2. You can postpone your federal income tax payment for the 2020 tax year to May 17 without penalty or interest
  3. You do not need to do anything to be eligible for the extension
  4. You can still file for an extension (Extension Date: October 15)
  5. This relief does not apply to estimated tax payments that are due on April 15, 2021
  6. This extension has no bearing on state tax filings

We recommend you complete your tax filings as soon as you’re able to avoid any chance of missing the deadline. If you have any further questions about the extension, you can review the notice posted by the IRS, or contact your usual KSBarlevi manager.