Federal Tax Filing Deadlines for 2021

An earlier version of this blog had the wrong date for FBAR. It should be April 15, 2021. Please accept our apologies for the inconvenience.

The IRS will begin accepting and processing 2020 tax year returns on Friday, February 12, 2021.

Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows for 2021:

PARTNERSHIPS AND S CORPS:
Returns due on March 15,2021, Extended due date September 15, 2021.
Please note that K-1s must be provided by these dates as well.

INDIVIDUALS, TRUSTS, ESTATES, CORPORATIONS:
Returns due on April 15,2021, Extended due date October 15, 2021.

EXEMPT ORGANIZATIONS
Returns due on May 15, 2021, Extended due date November 15, 2021.

ESTIMATED TAX PAYMENTS CORPORATIONS & S CORPS:
First quarter estimated income tax payments are due on April 15, 2021;
Second quarter estimated income tax payments are due on June 15, 2021;
Third quarter estimated income tax payments are due on September 15, 2021;
Fourth quarter estimated income tax payments are due on December 15, 2021.

ESTIMATED TAX PAYMENTS INDIVIDUALS:
First quarter estimated income tax payments are due on April 15, 2021;
Second quarter estimated income tax payments are due on June 15, 2021;
Third quarter estimated income tax payments are due on September 15, 2021;
Fourth quarter estimated income tax payments are due on January 15, 2022.

OTHER TAX RETURNS:
Returns with other due dates, such as the May 15 due date for nonprofits; Payroll or excise taxes; Estate or gift taxes; and Information returns must file on by the deadline or apply for a six-month extension.

EXTENSIONS
Taxpayers needing an additional extension to September 15, 2021 and October 15, 2021, can file an automatic extension request by March 15 and April 15, 2021, using Form 4868 for individuals and Form 7004 for businesses (including trusts), and must pay any extension amount due at that time to avoid the imposition of interest and penalties starting after the original due date of the return.

INDIVIDUAL RETIREMENT CONTRIBUTIONS
Deadlines for contributions to IRAs, employer retirement plans, health savings accounts, and Archer medical savings accounts are on April 15, 2021.

EMPLOYER RETIREMENT CONTRIBUTIONS
Basic elective deferral limit
The basic limit on elective deferrals is 19,500 in 2020 and 2021, $19,000 in 2019, $18,500 in 2018, and $18,000 in 2015 – 2017, or 100% of the employee’s compensation, whichever is less. The elective deferral limit for SIMPLE plans is 100% of compensation or $13,500 in 2020 and 2021, $13,000 in 2019 and $12,500 in 2018. Catch-up contributions may also be allowed if the employee is age 50 or older.

Deadlines for employer retirement contributions are generally the original due date of the tax return or date with extensions if extension was filed depending on the type of retirement plan.

FBAR (Report of Foreign Bank and Financial Accounts)
Due April 15, 2021.
1. The person has a financial interest in, or signature authority (or other authority that is comparable to signature authority) over one or more accounts in a foreign country, and
2. The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year.

See also:
https://www.irs.gov/pub/irs-pdf/p509.pdf
https://www.irs.gov/charities-non-profits/return-due-dates-for-exempt-organizations-annual-return
https://www.irs.gov/instructions/i1041
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-contributions
https://www.irs.gov/newsroom/report-of-foreign-bank-and-financial-accounts-fbar