April 13, 2021   //   COVID-19 Tax   //   By PKF Mueller Solutions


The due dates for estimated tax payments for 2021 were not postponed along with the date to file 2020 Forms 1040 and 1040-SR. On April 15, 2021, the first 2021 estimated tax installment is due.

If an individual taxpayer has a 2020 overpayment and elects to credit the 2020 overpayment against the 2021 estimated tax, the date on which the 2020 overpayment is applied against the 2021 estimated tax depends on: (a) the date(s) of payment, and (b) the extent to which an overpayment exists as of April 15, 2021. An extension of time to file has no effect on either the date of payment or the date on which an overpayment exists.

For additional clarification see this IRS article, or contact one of our Mueller Tax Representatives today.