Delayed IRS tax deadline may not change your state taxes

p 1 delayed irs tax deadline to july does not change your state tax deadline

That additional, blissful spring month earlier than you need to file your taxes that the IRS gifted you this week  comes with a hitch: The brand new May 17 submitting deadline for 2020 taxes applies to federal taxes solely. Your state’s tax deadlines may nonetheless be April 15. As of Friday morning, some states have already mentioned that they’d be part of the IRS in extending the submitting deadline to May 17, however each state may not soar on board.

Sure, this can be a state of affairs. You might have three decisions:

  • Wait to see if your state follows go well with. Test your state’s revenue tax web site and see if the deadline strikes to May 17. Final 12 months many states adopted the IRS delay to July 15, as a result of pandemic. However not all states did.
  • File an extension with the state. States enable six-month extensions, to October 15, 2021, which might permit you to file each your federal and state taxes by May 17, with out accruing any additional charges.
  • Simply file by April 15. If you happen to follow the previous deadline, you might be assured to haven’t any points with late charges. It is a robust technique for individuals who owe estimated taxes which can be nonetheless due on April 15, and thus want to finish their accounting by April 15 anyway.

Observe that you just do not have to file an extension with the IRS to benefit from the May 17 delay. Stick with it with your procrastinatory methods.

Advertisements