03/17/2021
From Bloomberg.com:
The Internal Revenue Service is planning to delay the April 15 tax filing deadline by about one month, giving taxpayers additional time to file returns and pay any outstanding levies, according to three people familiar with the discussions.
The filing extension would give taxpayers additional breathing room to meet their tax obligations in what is becoming one of the most complicated tax seasons in decades. The change would come after calls from accountants and leaders in Congress to delay the due date as new legislation and pandemic-related work changes disrupt taxpayer plans.
Among the changes this tax season are last-minute amendments to the $1.9 trillion stimulus bill signed into law earlier this month that give filers a new tax exemption on up to $10,200 of jobless benefits. The individual tax return, Form 1040, is also the mechanism for people to claim any missing $1,200 or $600 stimulus payments from last year.
Besides the disruptions from the pandemic, the changes in tax law will mean some filers will have to wait for updated forms, resubmit their returns, and some will need to consult a tax adviser on how to proceed if they’ve already filed.
