On March 17th the Treasury Department and Internal Revenue Service extended the federal income tax filing due date for individuals from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days. Individual taxpayers do not need to file any forms or notify the IRS to qualify for this automatic federal tax filing and payment relief.
Note: This relief does not apply to estimated tax payments that are due on April 15, 2021.
As this notice was just released yesterday, most individual states have not yet adopted the new filing and payment deadline for state taxes. We will continue to monitor South Carolina and other state tax agencies to see if they adopt this new federal tax deadline.
If you have any questions about this or any other items, please reach out to your WR Partner or your relationship manager. We are here to help.