“Well, I quit those days and my redneck ways. And, oh, the change is gonna do me good.” -Elton John
Are you ready to hear a change that will do you some good? The Internal Revenue Service relaeased IRS Notice 2021-59 on March 17, 2021 providing relieft on filing and tax payment deadlines for indificuals without the accrual of interest and penalties.
Basically, you now have until May 17 to file 2020 tax returns that would originally be due April 15! This also applies to the payments associated with the filings.
The notice only applies to individuals, sole proprietors, and LLCs filing as sole proprietors. It does not appear to alter the due date for C corporations and other entities who file returns that are not part of the 1040 series.
This extension DOES NOT apply to first quarter estimated tax payments. Those will remain due on April 15.
#ildertonbookkeepingllc #knowyourbusiness #2020taxes #estimatedtaxes #taxes #taxseason2021 #individualtaxes #Form1040 #farrfamilyplaylist