IRS planning to extend tax deadline by one month, reports say


A letter to the IRS says the April 15th deadline for filing taxes is unrealistic as the still in an unprecedented period of national crisis. The move provides more breathing room for taxpayers and the IRS alike to cope with changes brought on by the pandemic. During last year's filing extension, the IRS reminded taxpayers that they can make contributions until the due date for that tax year's return.

"It's important to individuals and businesses that New Jersey conforms to any change in the IRS deadline so that affected taxpayers have sufficient time to meet their tax obligations", said Senator Sarlo (D-Bergen). A third round of stimulus payments, new exemptions for those who claimed unemployment in 2020, expanded Child Tax Credits, and more must now be accounted for. Those who need more time beyond May 17 can request an extension until October 15.

The IRS and Treasury Department will postpone the April 15 tax-filing deadline to May 17, the agencies announced Wednesday.

A number of lawmakers and professionals from the tax community have urged the tax filing season be extended to accommodate for these pressures.

House Democrats had been demanding that the IRS issue an extension, in part because this year's tax filing season started about two weeks later than last year, giving households struggling with the pandemic less time to file.

IRS Commissioner Charles Rettig said the delay was because of the "tough time for many people" caused by the pandemic.

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'Never before has the law changed so substantially in the middle of tax filing season, ' Patrick Thomas, director of Notre Dame Law School´s Tax Clinic, said in a statement.

"Taxpayers need more time to file accurate returns and get their questions answered by the IRS".

Besides the disruptions from the pandemic, the changes in tax law will mean some filers will have to wait for updated forms, resubmit their returns, or consult a tax adviser on how to proceed if they've already filed.

Rettig was set to testify Thursday before the House Ways and Means Committee about the 2021 filing season.

Besides that second-round requirement to send out $142 billion in checks to 147 million people, the IRS has struggled to catch up on its backlog of mailed tax returns from past year. Since the start of tax season, the IRS has advised those expecting a refund to file electronically and submit direct deposit information for the fastest return.