IRS Issues Additional Details About May 17 Extension

W-2 form

The IRS recently issued Notice 2021-21, providing more details about the extension of individual tax filings to May 17. The notice is summarized in this Journal of Accountancy article.

A few key details include in the Notice:

  • What remains due on April 15, 2021:
    • 2021 first-quarter tax estimates
  • What is due on May 17, 2021:
    • 2020 individual tax returns and 2020 tax balances due
    • IRA and Roth IRA contributions
    • HSA
  • Clarifications to a number of forms and supplemental schedules due with returns by May 17, 2021.
  • Clarifies that interest and penalties for 2020 balance due payments will begin to accrue May 18, 2021.

For additional information or if you have questions, contact us.