May 17 is New Individual Tax Due Date

  • Agribusiness
  • 3/17/2021
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The IRS has extended the Individual Due Date from April 15 to May 17. However, many details are still not determined.

The IRS announced today that May 17 will become the individual tax due date instead of April 15.  This applies (so far) only to 2020 individual tax return filing and payments.  As of right now, trusts and corporate returns due on April 15 will remain due on that date.

Your 2021 first quarter tax estimate is still due on April 15 even though you may not know the amount to base it on. This likely will not affect most farmers since their only estimated tax payment is  due on January 15, 2022.

Still uncertain is whether the deadline for making IRA contributions will remain at April 15 or get adjusted to May 17.  There should be additional details coming from the IRS soon.

This blog contains general information and does not constitute the rendering of legal, accounting, investment, tax, or other professional services. Consult with your advisors regarding the applicability of this content to your specific circumstances.

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