IRS Delays Tax Filing Deadline to Mid-May

The Internal Revenue Service (IRS) announced that the  tax filing deadline will be automatically extended from April 15 to May 17 to give taxpayers more time to prepare amid the COVID-19 pandemic.

The deadline extension applies to individual income returns and tax payments, including tax on self-employment income, the IRS stated.

“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” IRS Commissioner Chuck Rettig said in a statement.

According to the IRS, individuals do not need to file any forms or to contact the agency for the automatic tax filing deadline extension.

IRS also said that individuals can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021 to May 17, 2021, “without penalties and interest, regardless of the amount owed.”

However, the relief does not apply to estimated tax payments due on April 15, the IRS said. It also does not apply to state tax payments and deposits.

The House Ways and Means Committee hailed the IRS for the extension.

“This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” Chairman Richard Neal and Oversight Subcommittee Chairman Bill Pascrell, Jr. said in a statement.

“We are gratified that the IRS has recognized the need and heeded our calls for additional time, and while we are pleased with this 30-day extension, we will continue to monitor developments during this hectic filing season,” Neal and Pascrell also said.

The extension comes as the IRS is still dealing with the backlog of tax returns from last year while distributing millions of federal stimulus payments.

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