Since it’s March and you’re reading a personal finance blog, you’re probably considering starting on your taxes. Well, it looks like you may have an extra month to file your returns.
According to Bloomberg, the IRS is allowing an additional month in which to complete your taxes. From Bloomberg.com:
The Internal Revenue Service is delaying the April 15 tax-filing deadline to May 17, giving taxpayers an additional month to file returns and pay any outstanding levies.
The postponement applies to individual taxpayers, including people who pay self-employment tax, the IRS said in a statement Wednesday. The relief does not apply to the first-quarter 2021 estimated tax payments that many small business owners owe, however, the agency said. Those payments are still due on April 15. The IRS said it plans to issue more guidance in the coming days.
“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. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds.”