This year taxpayers will have an extra month to file taxes. Instead of the usual April 15 Tax Day, the Internal Revenue Service says taxpayers now have until 11:59 p.m. on May 17, 2021, to get those tax returns postmarked or emailed to avoid interest and penalties.
Why Tax Day Changed
IRS Commissioner Chuck Rettig said in a news release, “This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities.”
Still, at first glance, you may wonder if moving Tax Day to mid-May was really necessary. After all, the country has been dealing with the pandemic for at least a year. We’ve all become accustomed to standing 6 feet apart, wearing masks and working from home. Meanwhile, more people are getting vaccinated every day. It’s nice to have the extra time, but from a tax standpoint, did the deadline really need to be moved?
Delaying it made sense to Curtis Campbell, the president of TaxAct, an online tax preparation company.
“We’re facing one of the most complex tax seasons in our country’s history. So many Americans faced unique circumstances in 2020 that will have an immense impact on their tax filing that they may have never encountered before, ranging from unemployment income to stimulus payments,” Campbell says. “The IRS recognized that consumers are still navigating these complexities, and hence extended the deadline. With an extra 30 days, taxpayers will have more space, flexibility and confidence to file their taxes.”