By Faye Gastoon
The IRS has announced that the federal income tax filing due date for individuals for the 2020 tax year is automatically extended from April 15 to May 17, 2021.
The extended deadline is partly due to provisions of the American Rescue Plan Act that affect the taxes individuals will owe.
Tax preparation software must be updated to reflect the tax code changes because the legislation became law on March 11, 2021.
The most significant changes of the new law relate to the expanded child tax credit and the way unemployment benefits are taxed.
Quarterly estimated tax payments are still due on April 15, 2021.
State filing and payment deadlines vary by individual states.