On March 17th, the IRS made a 4th quarter decision to extend the federal deadline, and therein moved the individual tax filing deadline ahead by a little over a month. Now, your individual IRS taxes will be due May 17th, 2021.
Relatedly, taxpayers shall postpone federal income tax payments without penalties and interest, regardless of the amount owed. Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17, 2021. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.
Please take note, this deadline only extends to federal individual payments, and does not extend to state tax payments or deposits or payments of any other type of federal tax, such as partnership and corporate deadlines.
For more information, please contact the Burton Law Firm at 916.822.8700. More information will be released in the following days, but feel free to read on at: https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline.
UPDATE: The California FTB has agreed to match the IRS individual filing deadline to May 17th.
“We are aware the federal tax filing and payment deadline for individuals has been extended to May 17, 2021. Consistent with the IRS, California will also extend the state tax filing and payment deadline for individuals to May 17, 2021. The extension does not apply to estimated tax payments due on April 15, 2021.” See https://www.ftb.ca.gov/about-ftb/newsroom/2020-tax-year-extension-to-file-and-pay-individual.html for more details.
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California has required employers to “indemnify” employees for “necessary expenditures or losses incurred by the employee in direct consequence of the discharge of his or her duties, or of his or her obedience to the directions of the employer” in substantially the same terms since 1937 under Labor Code § 2802.
