IRS Extends 2020 Filing Season to May 17 Following COVID-Related Tax Law Changes
Despite usually opening the tax season in late January, the Internal Revenue Service (IRS) delayed the start of the 2020 tax season to February 12, announcing that they would start accepting and processing tax returns then. The deadline for individuals to file their taxes remained on April 15 until a recent announcement from the IRS that the agency is postponing the filing deadline, giving taxpayers an additional month to file their returns. As of now, income tax and payments will be due on May 17. While this new change applies to individual taxpayers and families, including people paying self-employment tax, this relief does have an exception—it will not apply to the estimated tax payments that many small business owners owe for the first quarter of 2021.
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