IMPORTANT TAX FILING UPDATE FROM CALDWELL CPAs
On Wednesday, March 17, 2021, the IRS announced it was pushing back the Federal tax filing deadline for returns normally due on April 15, 2021. The new filing deadline is May 17, 2021.
At this time, not all States are following the new IRS due date of May 17, which means some State returns will be due before Federal returns. Your Caldwell CPAs tax preparer will provide guidance on State filings.
Further, individuals can delay paying taxes to the IRS that normally are due on April 15. The extended payment date is also May 17, and the postponement includes those who pay self-employment taxes. Penalties and interest will start to accrue on unpaid balances as of May 17, 2021.
Caldwell CPAs encourages all tax filers to send their documents in as soon as possible. The earlier documents are sent, the sooner your return can be prepared. For those filers who will owe money, the sooner we have your information in our office, the faster we can let you know how much money will be due by May 17.
If you plan to file your tax return by May 17, 2021, Caldwell CPAs must have your complete set of documents in our office no later than April 25, 2021. As a courtesy to those clients who need more time, Caldwell CPAs will automatically process an extension for you if your documents are not in our office by April 25, 2021.
Please note, if you anticipate owing money, an extended filing deadline does not extend the time you have to pay. Payments are still due to the IRS by May 17, 2021 and possibly earlier for some States.
At this time, not all States are following the new IRS due date of May 17, which means some State returns will be due before Federal returns. Your Caldwell CPAs tax preparer will provide guidance on State filings.
Further, individuals can delay paying taxes to the IRS that normally are due on April 15. The extended payment date is also May 17, and the postponement includes those who pay self-employment taxes. Penalties and interest will start to accrue on unpaid balances as of May 17, 2021.
Caldwell CPAs encourages all tax filers to send their documents in as soon as possible. The earlier documents are sent, the sooner your return can be prepared. For those filers who will owe money, the sooner we have your information in our office, the faster we can let you know how much money will be due by May 17.
If you plan to file your tax return by May 17, 2021, Caldwell CPAs must have your complete set of documents in our office no later than April 25, 2021. As a courtesy to those clients who need more time, Caldwell CPAs will automatically process an extension for you if your documents are not in our office by April 25, 2021.
Please note, if you anticipate owing money, an extended filing deadline does not extend the time you have to pay. Payments are still due to the IRS by May 17, 2021 and possibly earlier for some States.
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We provide tax planning, tax preparation services, audit review, estate planning, financial planning, small business management advisory services, and outsourced bookkeeping – all tailored to your needs.
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Here at Caldwell CPAs, we are proud to be recognized as one of the Top 50 Largest Accounting Firms by the Washington Business Journal. We pride ourselves on being able to provide our individual and business clients with proactive tax and accounting solutions that enable each of them to reach their unique financial goals.
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Our metropolitan Washington, DC location is close to embassies and multinational organizations. This proximity, our multilingual tax experts and our deep expertise in the financial challenges faced by foreign nationals working in the US allows us to specialize in international accounting across a wide spectrum of issues. These capabilities also serve US companies and citizens working abroad.
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