2020 Federal Individual Income Tax Filing Deadline Extended to May 17
The Internal Revenue Service (IRS) announced today that the April 15, 2021 tax filing deadline for individuals has been extended until Monday, May 17, 2021.  

At this time the postponement of the tax filing deadline applies only to individual federal income returns and associated payments related to the 2020 tax year. This relief does not apply to 2021 first quarter estimated tax payments that are due on April 15, 2021. These payments are still due on April 15. It also does not apply to C corporations. State filing and payment deadlines vary and may not be the same as the federal deadline. You should check with your tax professional or state tax department to confirm state filing deadlines.

In 2020 the tax filing deadline was extended by three months, to July 15, as a result of the COVID-19 pandemic lockdown. IRS officials had previously said they wanted to keep this year’s filing deadline on April 15 in order to get refunds to taxpayers as quickly as possible. However, the IRS delayed the start of filing due to a backlog of unprocessed returns from last year.

Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.

If you have questions about filing your taxes or need assistance, please contact Gray, Gray & Gray at (781) 407-0300. 

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Everything You Need to Know About Employee Retention Tax Credits
Tuesday, March 23rd
1:00pm - 2:00pm EST

Gray, Gray & Gray will be hosting a free webinar to help businesses explore reasons why you may want to apply for and manage ERTC, including balancing ERTC with PPP loans. Join Gray, Gray & Gray Leaders Jim DeLeoKelly BerardiBrad Carlson and Derek Rawls as they answer your questions about the ERTC program.

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