The deadline for submitting individual income tax returns in 2020 has been extended by the Internal Revenue Service. The Internal Revenue Service (IRS) has extended the deadline for filing Individual Income Tax Returns for 2020 for taxpayers in the United States.
Instead of May 17, 2020, the revised deadline is May 17, 2021. (Each year, the deadline is April 15).
The time for filing and paying taxes has been extended, and this extension is just for individual taxpayers.
Individuals who pay self-employment taxes are also classified as self-employed.
Tax payments are not expected to be extended for the first quarter of 2021, as previously indicated. The submission deadline remains April 15, 2021.
This applies solely to people who file federal income tax returns. State tax returns are not extended as a result of this help; taxpayers should check with their respective states to determine if extensions are available.
Last-minute tax changes resulted in a $10,200 exemption on unemployment payouts.
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