IRS Exploring Extention for Filing 2020 Taxes
Looks like it might be 2020 all over again, if the IRS moves ahead with a plan to extend the tax deadline due to the COVID-19 pandemic like they did last year.
According to 6abc.com, even though the IRS has processed nearly 50,000 returns, its received more than 6 million more 2020 tax returns since February 12th that they've still not been able to get to. And that could mean the standard April 15th filing deadline gets pushed off.
But it doesn't appear we'll be as lucky as last year. In 2020, the 2019 tax filing deadline was postponed until July. This time around, the IRS will likely only extend the deadline to mid-May.
Taxes continue to be sticky in some situations because of the pandemic, and under some circumstances, more hoops to jump through. The IRS seems to remain sympathetic to that. The bureau is also busy distributing another round of stimulus checks to the American people. Last week, President Biden signed a $1.9 trillion COVID relief bill.
There may be a catch though. According to 6abc.com, individual states aren't mandated to offer a tax return extension. So far, Maryland is the only state to have agreed to extend the deadline for its residents till July 15th.
Additional information about the possible tax deadline extension can be found at 6abc.com.