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Is tax penalty payment date also moved to 2021-05-17?

Hey guys,

 

I think individual tax return deadline is moved to May17.

 

If I were to own some tax penalty payment due to large amount of underpayment for 2020 tax year, is there any money I need to pay by Apr 15?

 

Thanks

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1 Reply
RayW7
Expert Alumni

Is tax penalty payment date also moved to 2021-05-17?

The federal tax filing deadline for 2020 taxes has been automatically extended to May 17, 2021. Due to severe winter storms, the IRS has also extended the tax deadline for residents of Texas, Oklahoma and Louisiana to June 15, 2021.

 

This extension also applies to 2020 tax payments. Individual taxpayers may defer tax payments until the new filing deadline, interest and penalty free. The new federal tax filing deadline is automatic, so you don't need to file for an extension unless you need more time to file after May 17, 2021.

 

If you file for an extension, you'll have until October 15, 2021 to file your taxes. But, you'll still need to pay any taxes you owe by May 17.

 

The new federal tax filing deadline doesn't apply to  2021 estimated tax payments. First and second quarter estimated tax payment deadlines are still April 15, 2021 and June 15, 2021.

 

-follow these link(s) for additional information-

IRS Announced Federal Tax Filing and Payment Deadline ...

When are Taxes Due? Important Tax Deadlines ... - TurboTax

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