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2021 tax deadlines

Important 2021 Tax Deadlines You Should Know

2020 wreaked havoc on almost every aspect of Americans’ lives, and tax season was no different. The IRS pushed back a host of tax deadlines as individuals and businesses alike dealt with the COVID-19 pandemic.

Most people expect life to at least start getting closer to normal this year, and that’s reflected in 2021’s tax deadlines. Most of the calendar has been unaffected – though there is one notable exception.

The April 15 federal tax filing deadline for individuals and sole proprietors has been moved back to May 17. So has the due date for any money owed to the IRS, per those returns.

“This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” Congressmen Bill Pascrell Jr. and Richard Neal, both of the House Ways and Means Committee, said in a release. But the move also provides relief to the U.S. Treasury Department, which was tasked with sending out a third round of stimulus checks smack-dab in the middle of earnings season.

Most of the rest of the IRS’s 2021 tax deadlines remain the same. The following are some of the most pertinent filing and payment due dates individuals and businesses should know:

2021 Tax Deadlines

First Quarter

  • March 15: Original due date for IRS Form 1065, Partnership income tax returns.
  • March 15: Original due date for IRS Form 1120-S, S corporation income tax returns, if on a calendar year.

Second Quarter

  • April 15: Original due date for IRS Form 1040, individual and sole proprietor income tax returns. (Note: The IRS extended this to May 17.)
  • April 15: Original due date for IRS Form 1120, C corporation income tax returns.
  • April 15: Estimated tax due for individuals and corporations, first 2021 installment.
  • May 17: Original due date for IRS Form 990, exempt organization income tax returns.
  • June 15: Estimated tax due for individuals and corporations, third 2021 installment.

Third Quarter

  • Sept. 15: Estimated tax due for individuals and corporations, third 2021 installment.
  • Sept. 15: Extension due date for IRS Form 1065, Partnership income tax returns.
  • Sept. 15: Extension due date for IRS Form 1120-S, S corporation income tax returns, if on a calendar year.

Fourth Quarter

  • Oct. 15: Extension due date for IRS Form 1120, C corporation income tax returns.
  • Oct. 15: Extension due date for IRS Form 1040, individual and sole proprietor income tax returns.
  • Nov. 15: Extension due date for IRS Form 990, exempt organization income tax returns.
  • Dec. 15: Estimated tax due for corporations, fourth 2021 installment. (Individuals’ fourth 2021 installment not due until Jan. 15, 2022.)

Looking for a Helping Hand?

The tax professionals at McManamon & Co. specialize in small and midsize businesses operating across a broad spectrum of industries. Why does that matter? Because we’re always going to be up to date on every last inch of the tax code as it pertains to businesses like yours, meaning we’ll be best able to help you maximize tax deductions and credits.

Don’t go it alone. Call McManamon at 440.892.9088, or contact us online, today!

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