The IRS announced that Tax Day 2021 is Postponed – which is great news. But it is important to keep in mind that while the tax deadline has been extended for individuals, business owners do not necessarily have extra time beyond April 15th.
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Here’s what you (and your customers) need to know about the tax deadline, depending on your business structure:
A bit thank you to our friends at QuickBooks for this useful chart.
Additional guidance from the Internal Revenue Service and U.S. Treasury Department is likely to come soon, with details related to the individual filing extension. Please refer to the latest guidance from the IRS and Treasury to confirm how it applies to your particular situation.
The IRS also offers automatic extensions for those businesses or individuals that need additional time to file. In addition, many states have also updated their filing deadline. Please visit this TaxAct article for up-to-date filing information.
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