IRS Postpones April Deadline
The IRS has postponed the April 15, 2021 deadline for individual taxpayers to May 17, 2021. This covers both the tax return itself (Form 1040) and the payment of any 2020 balances due. Minnesota has also pushed back the due date until May 17 for individual taxpayers.
In addition, the deadline has been pushed back to May 17 for the following:
- Contributions to IRAs for the 2020 tax year
- Contributions to health savings accounts (HSAs) for the 2020 tax year
- Amended tax returns whose statute of limitations would otherwise have expired
It is important to note that the April 15 deadline was not moved for everything. The following items are still due on April 15:
- First quarter estimates for 2021
- Gift and estate tax returns
- Trust tax returns
- Business tax returns originally due April 15
Please contact your Copeland Buhl representative for more information.
This correspondence is for general information purposes only and does not constitute legal, accounting, or other professional advice. The information contained herein is not related to any individual situation or concerns and should not be relied upon or used as the basis for making decisions without consulting competent legal, accounting, or other professional advice regarding implications of a particular factual situation.