Taxes must be paid as taxpayers earn or receive income during the year, either through withholding or estimated tax payments. These payments are still due on April 15. This relief does not apply to estimated tax payments that are due on April 15, 2021. Most tax refunds associated with e-filed returns are issued within 21 days. In addition, the IRS urges taxpayers who are due a refund to file as soon as possible. Taxpayers should pay their federal income tax due by May 17, 2021, to avoid interest and penalties. 15 to file their 2020 tax return but does not grant an extension of time to pay taxes due. Filing Form 4868 gives taxpayers until Oct. 15 by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual taxpayers who need additional time to file beyond the May 17 deadline can request a filing extension until Oct. Individual taxpayers do not need to file any forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17. Penalties, interest, and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. This postponement applies to individual taxpayers, including individuals who pay self-employment tax. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed. Treasury Department and IRS have extended the federal income tax year 2020 filing due date for individuals from April 15, 2021, to May 17, 2021. Tax professionals should know that the U.S.
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