IRS Extends Certain Deadlines as a Result of the Pandemic:

On March 29, 2021, the IRS published Notice 2021-21 (the “Notice”) as a result of the COVID-19 pandemic. The Notice extends certain deadlines for “Affected Taxpayers.” That term is mainly defined as someone in either of the following categories: (1) any person with a federal income tax return filed via the Form 1040 series that, absent the Notice, would be due April 15, 2021; or (2) any person who is required to file Form 5498 (IRA Contribution Information), Form 5498-ESA (Coverdell ESA Contribution Information), or Form 5498-SA (HSA, Archer MSA, or Medicare Advantage MSA Information) that, absent the Notice, would generally be due June 1, 2021.

Under the Notice, for any Affected Taxpayer:

  • The due date for filing federal income tax returns via the Form 1040 series and for making federal income tax payments in connection with one of those forms having an original due date of April 15, 2021 is automatically extended to May 17, 2021. Thus, Affected Taxpayers do not have to file an extension form for that relief to apply.
  • The date of May 17, 2021 also automatically extends the deadline for making 2020 contributions to IRAs and Roth IRAs, health savings accounts, Archer Medical Savings Accounts, and Coverdell education savings accounts.
  • The deadline for filing and furnishing forms in the Form 5498 series is postponed to June 30, 2021.
  • The date of May 17, 2021 also automatically extends the deadline for reporting and paying the 10-percent additional tax on amounts includible in gross income from 2020 distributions from IRAs or employer-sponsored retirement plans. (That additional tax generally applies to any IRA or plan distribution received before the recipient attains at least age 59 ½.)   

To emphasize the somewhat narrow scope of this relief, the Notice states that “No extension is provided in this notice for the payment or deposit of any other type of Federal tax, including Federal estimated income tax payments, or for the filing of any Federal return other than the Form 1040 series and the Form 5498 series for the 2020 taxable year.”