![]() ![]() But tax extensions don't actually give filers more time to pay an overdue tax debt - they simply allow them to take extra time to submit a return without incurring a failure-to-file penalty. The IRS grants these extensions automatically for filers who ask for one. Of course, those who don't manage to complete their taxes by April 15 of next year can always request a six-month extension. In fact, many tax professionals have shifted to online services and have secure portals where clients can submit tax documents, so even if in-person meetings aren't safe in the months leading up to April 15, 2021, filers should still have a way to get their taxes done on time. ![]() ![]() Next year, it won't be a surprise - it will constitute more of an ongoing situation, and so tax-filers should, conceivably, have the means to work around it. That said, this year, the pandemic caught everyone by surprise. As such, there's a good chance the pandemic will still be an issue by the time next year's April 15 tax-filing deadline comes along. Even though there are several promising coronavirus vaccines in the pipeline, they may not be rolled out to the general public until mid-2021 or even beyond. Not only were filers given three extra months to submit a tax return, but they were also given three more months to pay any tax debt they owed from 2019 without incurring interest or penalties on that sum.īut whether the IRS allows for a similar extension in 2021 is yet to be determined. As such, the IRS allowed filers a three-month extension and pushed the tax-filing deadline back to July 15. Many people were thrown for a loop this year when the coronavirus outbreak exploded in March. Will the IRS extend the 2021 tax-filing deadline because of the pandemic? ![]()
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