New York Extends Tax Deadline for 2021
New York State is following the U.S. government when it comes to taxes this year.
Tax Day will be here before you know it, but thankfully not as soon as you'd expect. According to NBC New York, New York State has pushed its tax filing deadline to Monday, May 17, 2021. This extension matches the New York State tax filing deadline with the federal tax filing deadline. For both federal and New York State taxes, you will need to file by May 17, 2021.
Earlier we reported the new federal tax filing deadline for 2021 is Monday, May 17. This will give taxpayers more time to file and pay for taxes. If you do have to pay the Internal Revenue Service (IRS), you can delay the payment of any money owed until May 17. An extension can also be requested for returns until October 15. You will need to file form 4868. House Ways and Means Oversight Subcommittee Chairman Bill Pascrell Jr said, “This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis," according to CNBC.
New York State Budget Director Robert Mujica Jr. said, "[The] 30-day extension provides New Yorkers still coping with the complications of the COVID-19 pandemic ample time to file," according to NBC New York.
We reported previously that many accountants are still waiting on guidance from the IRS. They reportedly need guidance on multiple items that will impact this tax season. Taxes are said to be extra important this year because it could be the only way to receive stimulus payments you are eligible for but did not receive.