The IRS and Treasury Department announced Wednesday that the federal income tax filing deadline will be extended from April 15 to May 17.
The IRS will be providing formal guidance in the coming days, according to a release from the agency.
“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” said IRS Commissioner Chuck Rettig. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”
Individual taxpayers can also postpone federal income tax payments for the 2020 tax year to May 17 without penalties and interest, regardless of the amount owed.
Individual taxpayers who need additional time to file beyond the May 17 deadline can request a filing extension until Oct. 15 by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov.
The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds associated with e-filed returns are issued within 21 days.
This relief does not apply to estimated quarterly tax payments that are due on April 15, 2021.
The postponement only applies to individual federal income returns and tax payments otherwise due April 15, not state tax payments or deposits or payments of any other type of federal tax.
Kentucky has not yet extended beyond the filing deadline of April 15. Stay up to date with Kentucky’s tax filing guidelines here.
