US tax deadline extended to May 2021

By Chris Burns/Updated: March 18, 2021 11:21 am EST

The United States Internal Revenue Service announced today that the "file on" date for the 2020 tax season will be extended to May. Generally the required date by which taxpayers must file their tax forms in the United States is April 15, AKA "the 4th month after your fiscal year ends, day 15." The new required file-by date is May 17, 2021.

This delay isn't entirely unexpected. Given the last change in date from the IRS for taxpayers to reach their filing status in the year 2020 (for the 2019 tax season) due to the COVID-19 pandemic, we might've expected the entire process to be pushed back to the new date in new years. But until now, the April date has been in effect.

SEE TOO: 2020 Tax Returns amended by IRS: Software and paper edits

A recent report from the IRS suggested that they'll be delivering new worksheet papers to taxpayers that've already filed their taxes for the 2020 season (here in 2021). They've also made clear that tax software providers will need to update their protocols in order for taxpayers to file their taxes for the 2020 tax season in full.

The IRS announced earlier today (March 17, 2021) that they'd disbursed approximately 90 million Economic Impact Payments to taxpayers from the American Rescue Plan. This Economic Impact Payment is EIP 3, the third EIP, and the first of the year in 2021.

Processing for this payment started on Friday, March 12, 2021. The majority of these payments were made with direct deposit, valued at "more than $242 billion". The IRS also mailed "roughly 150,000 checks worth approximately $442 million" since the 12th. The IRS also noted that "since this past weekend" they've seen more than 35 million people get their stimulus payment status with the "Get My Payment" tool on IRS.gov.

As of March 17, 2021 at 1:50PM (Central Time), the When to file page on IRS.gov had not been updated since September 23, 2020. This non-updated page kept the April 15th "file on" date for the 2020 tax season (here in 2021.)

"House Ways and Means Committee Chairman Richard E. Neal (D-MA) and Oversight Subcommittee Chairman Bill Pascrell, Jr. (D-NJ) today applauded the decision by the Internal Revenue Service (IRS) to extend the federal tax-filing deadline from April 15 to May 17." That's according to a press release from the US House Ways and Means Committee. "Tomorrow, March 18 at 2PM, Oversight Subcommittee Chairman Pascrell will convene a subcommittee hearing on the 2021 Tax Filing Season and hear testimony from IRS Commissioner Charles Rettig." The IRS itself also confirmed the change.

NOTE: Per the IRS "When to File" rules, "Your return is considered filed on time if the envelope is properly addressed, postmarked, and deposited in the mail by the due date." There is also an "Extension of time to file your tax return" process you can go through as outlined on the IRS tax extension site.