Iowa Likely to Extend Tax Return Deadline
The Treasury Department and Internal Revenue Service announced last week that the federal income tax filing due date for individuals will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance soon. 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.
Additionally, the Iowa Department of Revenue is likely to extend its income tax filing deadline again this year as a result of the pandemic. Iowa’s state income tax filing deadline is traditionally April 30. Iowa Department of Revenue has publicly confirmed that the state is likely to change that date but is waiting on more details from the IRS before finalizing its decision. Stay tuned to the Department’s website for details forthcoming.