IRS Postpones April 15 tax deadline to May 17

The U.S. Internal Revenue Service (IRS) Wednesday postponed the tax filing deadline from April 15 to May 17 to give taxpayers more time to file their returns and settle bills.

“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,” said Chuck Rettig, IRS Commissioner, in a statement.

“Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled too,” he added.

The postponement also includes any money owed to the IRS. If taxpayers need more time to file returns for any outstanding money owed to the IRS, they can request an extension until October 15. Individual taxpayers do not require to file any forms or call the IRS to apply for the automatic federal tax filing and payment relief.

The deadline extension only applies to federal income returns and taxes, which means that taxpayers would have to cross-check with their states if any changes have been made to the due dates. It is important to note that not all states follow the same tax filing deadline as the federal government.

The IRS said it will provide more guidance on the filing extension soon enough.

The need to extend tax filings came days after the $1.9 trillion Covid-19 stimulus package went out, which meant that the IRS was tasked with the responsibility of sending out stimulus checks and processing tax returns at the same time. The IRS calls on all taxpayers to check with their state tax agencies for further details.

Some states like Texas, Oklahoma, and Louisiana have until June 15 to file their tax returns due to the February winter storms they experienced. Earlier this year, the Federal Emergency Management Agency (FEMA) issued disaster declarations.

“The extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” said House Ways and Means Oversight Chairman Bill Pascrell Jr. (D-N.J) and House Ways and Means Chairman Richard Neal, (D-Mass), in a statement on Wednesday. “Under titanic stress and strain, American taxpayers and tax preparers must have more time to file tax returns.”

The COVID-19 relief bill that was recently signed into law by President Biden, came in the middle of tax season. It included several changes that have made filing more complex for many this year.