Americans Have Until May 17 to File Their 2020 Federal Taxes
The tax deadline is slowly creeping up but due to the ongoing pandemic and *interesting* work situation in 2020, Americans can breathe a little sigh of relief because the IRS has extended the tax deadline.
April 15 is Tax Day but an announcement from the Treasury Department and IRS says they've pushed it to Monday, May 17, 2021. This means people have until that new date to file and pay (if they owe anything) their taxes. IRS Commissioner Chuck Rettig says they did this to help those who are still navigating these strange times.
This extension applies to federal income taxes. It will be up to the individual states to decide if they want to do the same for state income taxes. As of Wednesday evening, it's unknown if Michigan will follow suit. Last year, Michiganders had until July to get theirs done.
The IRS will provide a more formal guideline in the coming days. This is great news if you've been kind of stressed about getting your taxes done on time. It also helps to know that you don't need to do anything on your part unless you need an extension beyond May 17. Otherwise you'll need to request an extension.
Even with the new deadline, Americans are encouraged to still get their taxes done as soon as they can.
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.
Due to the severe winter storms last month, Texas, Oklahoma, and Louisiana are the three states who have until June 15 to get their federal taxes done.