Trucking news & briefs for March 22, 2021
Skinny on the extension of the annual tax filing deadline
The Internal Revenue Service extended filing and payment deadlines from the usual April date to May 17, 2021, for this annual filing season.
"The extension is automatic," noted the owner-operator business services provider ATBS, "so taxpayers filing prior to May 17, 2021, do not need to take any action to receive the extension."
To extend beyond May 17, filers will need to fill out and file Form 4868. Note: such a filing will get the taxpayer "an automatic extension to file until October 15, 2021," though tax payments will still be due by May 17, ATBS said.
Unlike last year, the IRS didn't extend the first-quarter estimated tax deadline. This deadline remains as April 15, 2021.
The extended deadline also did not pertain to 1120S/1065 extensions, which were still due March 15, 2021.
