You may have heard that the IRS extended the individual tax deadline by one month to May 17th, but there are important updates to know as follows:
- The deadline to file corporate taxes has not been extended and is still April 15th
- States are expected to extend their deadline, but we’ll have to wait and see
- Tax payments for the year 2020 are now due on May 17th
- The extension does not apply to first quarter 2021 estimated tax payments, which are still due on April 15th
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