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Breaking News on the Tax Filing Deadline

According to IRS insiders, the agency is planning to extend the April 15 tax return filing deadline by about one month. The move is intended to give people more time to file returns and pay the tax they owe. While a formal announcement hasn’t yet been made (I have it on inside information), the IRS is considering setting the deadline to either May 15 or May 17. They are still undecided, but since May 15 is a Saturday, it is typical that any deadline that falls on a weekend or holiday goes to the next business day. I’m not surprised that they intend to push back the date. This is certainly one of the most complicated tax seasons in my career, given all the changes to the law in 2020, and those just handed out through the American Rescue Act.

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