IRS Announces Automatic Filing Extensions for 2021
The extensions also push back the dates for contributions and some tax forms
March 17, 2021 – The Internal Revenue Service (IRS) has announced that the federal income tax filing due date for individuals for the 2020 tax year is automatically extended from April 15, 2021, to May 17, 2021. In Notice 2021-21 (Relief for Form 1040 Filers Affected by Ongoing Coronavirus Disease 2019 Pandemic), the IRS clarifies that the extension also delays the contribution deadline for 2020 IRA contributions and the deadline for filing Form 5498.
The automatic extension applies to any individual with a federal income tax return filed on the Form 1040 series that would otherwise be due on April 15, 2021. The postponed due date of May 17, 2021 also automatically applies to the deadline for taxpayers to make 2020 contributions to their IRAs and Roth IRAs, health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs). It also postpones the deadline for reporting and paying the ten percent additional tax on early distributions in 2020 from IRAs or workplace-based retirement plans.
In the Notice, the IRS also announced an extension for the filing of forms in the Form 5498 series. The due date for these filings is postponed to June 30, 2021. For more information, please see Tax Documentation on Saturna.com and Notice 2021-21 (Relief for Form 1040 Filers Affected by Ongoing Coronavirus Disease 2019 Pandemic) on IRS.gov.
Summary of Extended Dates for 2021
|
Regular Date |
New Date |
Items Affected |
| April 15
|
May 17, 2021
|
Individual tax return filing Contributions to:
Tax on early withdrawals |
|
May 31 |
June 30, 2021 |
Form 5498 Series |
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