The IRS has pushed back the personal tax return deadline to May 17, 2021, but not all tax deadlines have been pushed back. In this video we provide a summary of all personal and business tax deadlines that you have to be aware of in this 2021 tax season so you avoid paying late filing penalties by the IRS.

Visit our website - [ Ссылка ]

DISCLAIMER
This video is intended for education purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Freedomtax Accounting and Multiservices Inc. is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. Freedomtax Accounting and Multiservices Inc. or its members cannot be held liable for any use or misuse of this content.

Important Due Dates for Filing Your 2020 Tax Return and Payments

Deadlines in Calendar Year 2021 for 2020 Returns

Deadlines for annual returns are almost invariably in the spring, with extensions available until the fall:

Individual income tax returns: April 15 falls on a weekday in 2021, and it's not a holiday this year, but because of the extension, the filing deadline for your 2020 personal tax return is now May 17, 20212.3

Estimated tax payments for the 2020 tax year (IRS Form 1040): For 2020, these were due on July 15 and Sept. 15. There normally would have been two additional payments for the first and second quarters on April 15 and June 15, but the IRS pushed them back due to the coronavirus pandemic. The fourth and final estimated payment for the 2020 tax year was due on Jan. 15, 2021.

Partnership returns (IRS Form 1065): These are due March 15, 2021. The extended deadline is Sept. 15, 2021.

C-corporation income tax returns (IRS Form 1120): These are due April 15, 2021, for C-corporations that operate on a calendar year. The extended deadline is Oct. 15, 2021. The deadline for C corp returns is the 15th day of the fourth month following the end of the corporation's fiscal year if the corporation operates on a fiscal, rather than a calendar, year (Ref 2).

S-corporation returns (IRS Form 1120-S): These returns are due March 15, 2021, for corporations operating on a calendar year. The extended deadline is Sept. 15, 2021. The deadline for S-corp and partnership returns is the 15th day of the fourth month following the end of the fiscal year, if they're on a fiscal year rather than a calendar year.

Foreign partnership returns are due on the same date as other partnership returns March 15, 2021.

Trust, estate and gift tax returns are due April 15, 2021.

Nonresident alien returns are due April 15

Exempt organization returns are due May 15, 2021.

#taxseason2021 #taxdeadline #taxdeadlineextension #taxdate

свернуть