2021 Tax Season - How to File for an Extension

2021 Tax Season - How to File for an Extension

If you're struggling to get your taxes done then you may want to consider filing for an extension.

But what does that mean and how do you do it?

Newsy's Bianca Facchinei has the latest on what you need to know.

MAY WANT TO CONSIDER FILING FORAN EXTENSION.BUT WHAT DOES THAT MEAN AND HOWDO YOU DO IT?NEWSY'S BIANCA FACCHINEI HAS THELATEST ON WHAT YOU NEEDTO KNOW.FOR THE SECOND YEAR IN A ROW,THE DEADLINE TO FILE FEDERINCOME TAXES HAS BEEN EXTENDEDDUE TO THE PANDEMIC.

I'M NOT ANEXPERT, BUT WE TALKED TO LOTS OFTHEM, AND ASKED: WHATDOES THIS EXTENSION MEAN FORTAXPAYERS?"THE IRS EXTENDED THE TIME NOTONLY FOR TAX RETURNFILING FOR INDIVIDUALS, BUT ALSOTHE TIME TO PAY THAT INCOME TAXON APRIL 15.

YOU NOW HAVE UNTILMAY 17," SAID KEMBERLEYWASHINGTON, TAX ANALYST WITHFORBES ADVISOR.BUT NO NEED TO WORRY - IT'S NOTEXPECTED TO CAUSE A DELAY INREFUNDS."I THINK THAT THE IRS IS GOINGTO CONTINUE PROCESSINGRETURNS AS QUICKLY AS THEY CAN,"SAID NATHAN RIGNEY,LEAD TAX RESEARCH ANALYST AT H&RBLOCK.IT'S IMPORTANT TO NOTE THAT THENEW DEADLINE ONLY APPLIES TOFEDERAL TAX RETURNS, NOT STATEONES.

BUT SOME STATESHAVE BEEN GIVEN A LITTLE EXTRATIME.

"BECAUSE OF THE RECENTWINTER STORMS, LOUISIANACITIZENS NOW HAVE UNTIL JUNE 15,AND ALSO TEXAS AND OKLAHOMA,TOO," WASHINGTON SAID.

THE NEWDEADLINE DOESN'T INCLUDEQUARTERLY TAX PAYMENTS FOR SMALLBUSINESSES.

"THAT DEADLINE FORSMALL BUSINESS OWNER