The Internal Revenue Service (IRS) has again extended the tax filing deadline because of the pandemic. Last year, the normal tax deadline in April coincided with the shutdowns in the U.S. and COVID’s continued spread around the world. As a result, the IRS pushed the tax filing deadline into July.
This year, taxpayers are going to get another respite from the frenzy of filing taxes on time. The IRS again chose to extend the deadline to file 2020 taxes for a brief period in order to allow more people to see their accountants, and do all the necessary paperwork to file their 2020 taxes.
The new tax deadline for individuals is May 17, 2021. This one-month extension for filing taxes should help people get appointments with their accountants, and assemble all documents they will need to file their taxes. The 2020 tax year is unusual for many people because they will be dealing with new tax issues like unemployment and working from home.
Along with the extended filing deadline, the IRS set a few other new deadlines as well. Accordingly, this article will discuss all deadline changes the IRS made for 2020 taxes. If you have questions or need help, call a Sarasota, Florida IRS attorney with your tax filing questions.
The Law Office of Mary E. King, P.L. can make sure that your tax planning and other issues are resolved efficiently and at the lowest cost to you. Please fill out our online contact form, or call us at 941-906-7585 today.
1. Tax Filing Deadline Extended
As noted, the IRS extended the April 15, 2021 deadline for filing your 2020 taxes to May 17, 2021. Clearly, the pandemic is still impacting our country and businesses, which in turn impacts our everyday lives. This includes getting everything ready to file taxes.
Many people do their own taxes, and many use accountants and other taxpayer services when preparing their tax forms. It is still hard for people to do in-person appointments and meetings, so there is a lag in getting appointments scheduled. The new deadline should allow people to get their forms completed and filed on time.
The IRS also is incredibly far behind in processing taxes and other tax filings. They have not even begun to catch up with all of the backlogged tax returns and other filings they have. The IRS has 2.4 million 2019 tax returns that they have not processed yet. So, the extended deadline is meant to help them as well. You may be having trouble with the IRS and don’t know where to turn. These are difficult and unprecedented times. You can always turn to a Sarasota IRS attorney for help.
2. Is the Tax Payment Deadline Also Extended?
The payment deadline for the federal income taxes any individual taxpayer owes has been extended to May 17, 2021, as well. Therefore, you can still send your payment with your taxes without any late payment charges like interest and penalties. The IRS will not begin charging penalties, interest, and other additions to taxes owed until after the May 17, 2021 deadline. This gives you time to contact a Sarasota IRS attorney with any tax issues or questions about payments.
3. Are Estimated Tax Payments Still Due on April 15, 2021?
Unfortunately, not all the dates are extended this year. Estimated tax payments are still due on April 15, 2021. The IRS has not extended that deadline.
That means that if you are required to pay quarterly tax payments to the IRS because taxes are not normally withheld from your income, then you have to make that payment as you normally would. This generally applies to people who are self-employed, have rental income, or receive alimony. If you are unsure how much you should pay to the IRS, or if you need to make a quarterly payment, discuss this with a Sarasota IRS attorney.
The Law Offices of Mary E. King Can Help With Your Tax Issues
The last couple of filing years have unleashed myriad issues for taxpayers. People are experiencing tax problems that they have never had to deal with in the past. Experienced Sarasota IRS attorneys are really needed right now.
Consider reaching out to the Law Offices of Mary E. King for help. Tax matters can be complicated, and thus, it is always helpful to have someone in your corner who understands the tax law and deals with the IRS on a regular basis. Indeed, beyond just the tax laws, there could be other issues with which a seasoned tax attorney can help.
So, when it comes to dealing with tax questions, tax relief, and tax litigation, you need to talk to Sarasota IRS Lawyers who can help. Mary E. King has spent her career concentrating in tax law and can help you in Florida and elsewhere. Attorney King has a wealth of information about what types of options would make the most sense for you or your business.
That helps explain why she’s received an A+ rating from the Florida Better Business Bureau. If you have a tax-related issue – no matter how small or how large – setting up an initial consultation with Mary E. King, tax lawyer of Florida, is the first step you should take towards relief.
The Law Office of Mary King P.L. offers complete IRS problem-solving services including all areas from tax debt settlement to planning the most efficient tax strategy for individuals and businesses. Call us today to schedule an initial consultation. With years of experience as Sarasota IRS Lawyers for many clients, Attorney Mary E. King can make sure that your tax issues are resolved in your favor. Fill out our online contact form, or call us at 941-906-7585. Remember, at the Law Office of Mary E. King, we are focused on solving your tax issues for good.
The information in this blog post is provided for informational purposes only and is not intended to be legal advice. You should not make a decision whether or not to contact an attorney based upon the information in this blog post. No attorney-client relationship is formed nor should any such relationship be implied. If you require legal advice, please consult with an attorney licensed to practice in your jurisdiction.