Last year, 41 states that have a personal income tax postponed their April 15 filing and payment deadlines due to the fallout from the pandemic, but that hasn’t officially happened this time, at least not yet. The IRS has moved the deadline for filing 2020 federal income tax returns from April 15 to May 17, 2021. This will also give the tax agency, which already has a backlog of unprocessed tax returns, more time to adjust its computer systems and forms to account for tax changes made by the recently enacted American Rescue Plan Act – most notably, the $10,200 federal exemption for unemployment compensation received in 2020, that might be only federal AND NOT STATE TAX EXEMPT.
Oklahoma has delayed their state income tax filing deadlines. Maryland’s due date was extended to July 15th. The new Oklahoma due date – June 15 – was made in response to the recent winter storm in the state. We expect more states to push back their tax filing deadlines now that the IRS has pushed back the federal personal income tax due date, but at this point there is no way to know for sure which will and if any will not.
The federal news is good, but not as much for the public benefit as for their own, so be sure you know what your state is or is not changing. Many will find that the practical tax deadline is still April 15th, since in most cases, you need to have completed your federal tax return in order to complete your state tax return.
here is a handy public link to check out what is happening in your state: https://www.taxadmin.org/state-tax-agencies