IRS taxes (Photo by Joe Raedle/Getty Images)
#Roommates, if you were too focused on getting your stimulus check to take the time out to file your 2020 tax return, you’re in luck because the IRS is feeling pretty generous. In an effort to give taxpayers more time to file their annual return, the IRS has officially extended the tax filing deadline to May 17th—one month after the regular deadline.
@CNBC just reported the breaking news that the IRS is giving a gift to Americans—in the form of a deadline change. On the heels of depositing millions of stimulus checks into the accounts of U.S. residents, the IRS has also confirmed that the tax filing deadline is now on May 17th, a little over thirty days later than the general April 15th deadline. Why the change? Well, the IRS wants to ensure that everyone has enough time to not only file their returns, but also pay any outstanding amounts they may have.
The decision was influenced following the passing of the $1.9 trillion stimulus plan, which caused the IRS to be overloaded with processing millions of stimulus payments and not enough time to focus on processing tax returns and refunds. Back in January, the IRS announced that it pushed back the official start of tax filing to February 12th because the agency needed more time after the December 2020 COVID-19 relief bill was passed.
However, it should be noted that residents and businesses in Texas have a tax filing deadline of June 15th after the state was declared a disaster area following the devastating winter storms.
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