If you’re scrambling to file your return in the next few days, we have some good news for you: You may have more time than you think. The IRS has pushed the 2021 tax deadline back a month for individuals, but since May 15th lands on a Saturday, it’s being further extended to the following Monday, May 17th. This gives everyone a bit of extra time to file their full return or send in an extension.
File as Soon as Possible
Despite the extra time, it’s always a good idea to file your tax return as soon as you possibly can. This helps you to get your refund faster, can protect you from tax fraud, and ensures that you avoid any late filing fees. If you’re ready to file now, don’t put it off until the new deadline. Get your return filed right away.
Request an Extension
If you don’t believe the extra month will be enough time for you to complete your 2020 tax return and file it, you can still request an extension. This will give you an extra five months to file your complete return, pushing your deadline to October 15th.
Please remember that this is only an extension to file, not an extension for payment. You will need to estimate your 2020 tax liability and submit a payment before the May 17th deadline if you want to avoid late payment penalties and interest. We can help with performing that calculation and submitting your extension request.
Schedule Your Appointment
This is our busiest time of year, so if you hope to meet with your CPA and get your return completed and submitted before the new tax deadline, we encourage you to reach out to us and schedule your appointment today. We’ll meet with you to discuss what additional documents we might need, and work to get your tax return filed before May 17th.
Contact us to schedule your appointment, or if you have any questions regarding the new tax deadline.