IRS pushes tax day back to May
RAPID CITY, S.D. (KEVN) - Death and taxes due on April 15- those used to be the two things that were “certain” in life, but one of those has changed.
On Wednesday, the IRS said they are planning on delaying the tax filing deadline for the second year in a row, pushing the date back 30 days.
Joei Tieman, a tax manager at Ketel Thorstenson, said, as of now, the first quarter estimated tax returns are still due April 15.
The frequent changes are posing challenges to tax professionals, as they are often waiting for their software to update to match new laws
“When we’re constantly getting tax law changes, and we are constantly getting new updates, it just makes it challenging because we want to give them the guidance that they need and be that support,” said Tieman. “But on the flip side, we have to just put out the information as it comes available to us, and we pass it along to our clients.”
Tieman said the stimulus checks from the COVID-19 relief rollout are not taxable to the taxpayers, but that stimulus payment has to be reported on the 2020 tax return, in order for the IRS to see if the people who were supposed to get the payments did.
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