Just this past Wednesday, March 17th, the due date to file your 2020 federal and California income tax returns filings was postponed to May 17th, from April 15th. This includes the filing of the tax return as well as paying any remaining balance that is due for 2020. The delay comes from the continual effects that COVID-19 has had on America, including the IRS, which hasn’t fully processed about 24 million returns since the 2019 tax year.
2021 estimated taxes will remain as originally scheduled so don’t forget that the first estimated payment is due on April 15th, before 2020 taxes are due. The October 15th deadline remains unchanged as well for those that file extensions but remember that this is just an extension to file, not pay. Thus, tax payments are still due on May 17th even if you filed an extension.
Haven’t you filed your taxes yet? Contact Paragon Accountants today!
