Updated: On March 18th the Georgia Department of Revenue announced an extension of the state individual filing deadline.
On the same day, the IRS issued millions of taxpayers the economic stimulus payment outlined in the American Rescue Plan Act of 2021; they also announced an extension to the individual tax filing deadline. The original date of April 15th has been the standard deadline but was modified last year during the COVID-19 pandemic. According to the announcement, the automatic extension moves the filing deadline for 2020 taxes to May 17, 2021. In addition, related tax payments can also be delayed without concern for interest and penalties.
It is important to note the relief does not apply to estimated tax payments due on April 15, 2021. These payments are still due on the same date and there will no waiver of related penalties and interest on amounts owed. It is important to note the IRS relief for victims of the February winter storms in Texas, Oklahoma and Louisiana will not be impacted. These taxpayers still have until June 15th to file and pay their 2020 individual taxes.
The deadline extension does not come as a surprise since the IRS has been struggling to stay current with the diverse needs of taxpayers. It is important to note, the extension does not apply to the Georgia tax filing deadline. We will monitor the situation and provide you with updates as they become available. If you have questions about the extended deadline, Wilson Lewis can help. For additional information call us at 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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