On Wednesday, the Treasury Department and Internal Revenue Service provided a St. Patrick’s Day gift for tax preparers and filers – an extension of the annual tax filing and payment deadline from April 15, 2021 to May 17, 2021. The extension will be especially beneficial as tax preparers and filers work to incorporate changes imposed by last week’s passage of the American Rescue Plan.
Importantly, the extension does not apply to estimated tax payments and withholding payments normally due on or before April 15. Additionally, the IRS extension does not apply to State income taxes, although it is anticipated the Michigan Department of Treasury will extend the filing deadline for Michigan taxpayers following yesterday’s announcement by the IRS.
The IRS is expected to issue formal guidance regarding the extension within the next few days.
Contact your Mika Meyers’ attorney with any questions.