March 19, 2021   //   COVID-19   //   By PKF Mueller Solutions

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The Internal Revenue Service (IRS) and the Illinois Department of Revenue (IDOR) announced the 2020 income tax filing due date for individuals will be automatically extended from April 15, 2021, to May 17, 2021.

The federal tax filing deadline postponement to May 17, 2021, only applies to individual federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2021. C-Corporation returns, 1041 returns, and federal 2021 Q1 estimated tax payments have not been postponed and continue to be due on April 15, 2021.

Gov. Pritzker announced on March 18, 2021 the Illinois 2020 individual income tax filing and payment deadline is automatically extended from April 15, 2021, to May 17, 2021. The filing extension does not apply to the 2021 Q1 estimated tax payments due April 15, 2021.

State filing and payment deadlines vary and do not automatically follow federal non-statutory changes. The IRS urges taxpayers to check with their state tax agencies for those details [taxadmin.org] [r20.rs6.net] for conformity to the new federal due date.

This situation remains fluid and the IRS and state tax agencies are expected to provide guidance in the coming days. Our tax advisors are monitoring tax developments from federal and state governments and will be reporting further guidance as it becomes available.

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For more information, please contact:

Timothy Owens, CPA

Tax Manager
towens@muellercpa.com
(708) 745-3532

Artur Krawczyk, CPA, MST

Tax Manager
akrawczyk@muellercpa.com
(847) 783-1912