This past week, the Internal Revenue Service (IRS) announced that the federal personal income tax filing and payment deadline for individuals during the 2020 tax year will be extended from April 15, 2021 to May 17, 2021. This extension is applied automatically for all federal income individual tax filings.
On Friday, New York State followed suit and announced that they will also be extending the personal income tax filing and payment deadline to May 17, 2021.
It is important to note that other April 15th deadlines remain in affect including Trust filing and first quarter 2021 tax estimate deadlines.
File Your Taxes Today
Despite the deadline change, both the IRS and the professionals at CTBK encourage individuals to file as soon as possible. Further information and guidance from the IRS is expected in the upcoming weeks. We will keep you apprised as we learn of additional filing changes.
As always, should you have any questions or concerns regarding your taxes, contact your CTBK service team for guidance.