IRS Extends Tax Deadline for Individuals Until May 17
The IRS has announced that the deadline for federal tax filings and payments for individuals for the 2020 tax year has been extended to May 17, 2021. Individuals who owe tax payments for the last tax year, including those who pay self-employment tax, can postpone their federal income tax payments for the 2020 tax year until May 17 without penalties or interest, regardless of the amount owed.
Oregon has also announced the same extension for individual state returns.
This relief does not apply to estimated tax payments that are due on April 15, 2021. These payments are still due on April 15.
The IRS is expected to provide formal guidance in the coming days. We will update you with more information as we learn more.
Click here to read the IRS announcement regarding the extension.