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March 17, 2021

BREAKING TAX NEWS | IRS extends income tax filing and payment deadline for individuals

The Treasury Department and IRS announced that the federal income tax filing date for individuals for the 2020 tax year has been automatically extended to May 17, 2021. Individuals will also have until May 17, 2021, to pay their 2020 income tax liabilities, which would otherwise have been due on April 15, 2021, without penalties or interest. This relief does not apply to estimated tax payments due on April 15, 2021.

The IRS said it will release formal guidance in the coming days. A Tax Alert is forthcoming.