IMPORTANT DEADLINE: Individuals, IRAs, C-Corps, Corporations and Trusts
On March 17, the Treasury and IRS extended the time period to file and pay INDIVIDUAL taxes until May 17.
As of the March 17 notice, this does not extend first quarter estimates or state filings, except for the State of Maryland.
Learn more about this Individual Tax Day Extension.
On March 29, the IRS extended additional tax deadlines for individuals to May 17. Learn more about these changes on the IRS website.
INDIVIDUALS: On March 17, the Treasury and IRS extended the time period to file and pay INDIVIDUAL taxes until May 17.
C-CORPS: C-Corps file calendar year 2020 tax returns and pay any money still due. They can file an automatic 6-month extension using Form 7004 BUT this is NOT an extension to pay.
IRA: On March 29, the IRS extended the time period to make contributions to 2020 IRA & Roth IRAs until May 17.
INDIVIDUALS & CORPORATIONS: If you’re not paying your 2021 income tax through withholding (or won’t pay in enough tax during the year that way), pay the first installment of your 2021 estimated tax. Use Form 1040-ES. For more information, see Pub. 505.
CORPORATIONS: For calendar year corporations, deposit the first installment of estimated income tax for 2021. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
TRUSTS: 2020 tax returns must be filed or extended. The balance due must be paid. An automatic extension to September 30, 2021 using Form 7004 can be filed. This is NOT an extension to pay.