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IRS Extended Additional Deadlines for Individuals Taxpayers Until May 17

IRS Extended Additional Deadlines for Individuals Taxpayers Until May 17
Ines Zemelman, EA
19 April 2021

The Internal Revenue Service extended certain deadlines from April 15, 2021, to May 17, 2021, in order to give more time to individual taxpayers to make IRA and HSA contributions and to file refund claims.

This announcement follows a previous decision by the IRS to extend the federal income tax filing due date for individuals for the 2020 tax year from April 15, 2021, to May 17, 2021.

IRA and HSA deadlines extended to May 17

With the deadline for filing Form 1040 series returns extended to May 17, 2021, individual taxpayers now have more time to contribute to their individual retirement arrangements (IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs). 

The deadline for reporting and payment of the 10% additional tax on amounts includible in gross income from 2020 distributions from IRAs or workplace-based retirement plans is also postponed until May 17, 2021.

2017 unclaimed refunds deadline extended to May 17

The previous deadline for tax year 2017 Federal income tax returns was April 15. However, it was also extended to May 17, 2021. Taxpayers have a three-year window to claim a refund. Otherwise, the money becomes property of the U.S. Treasury.

Foreign trusts and estates with federal income tax filing or payment obligations now also have until May 17, 2021, to file a Form 1040-NR return.

Estimated tax payment still due on April 15

The deadline for estimated tax payments remains April 15, 2021. 

Generally, estimated tax payments are made quarterly to the IRS by people whose income isn't subject to income tax withholding, including self-employment income, interest, dividends, alimony, or rental income. Most taxpayers have their taxes withheld from their paychecks automatically.

Ines Zemelman, EA
Founder of TFX