IRS extends deadlines for some taxpayers - Fox Business
The Internal Revenue Service (IRS) announced it is extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing to the same date the time for individuals to make 2020 contributions to their individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs). Also, the IRS is extending the deadline to claim your 2017 refund to May 17, 2021. The law provides a three-year window of opportunity to claim a refund. However, the extension only benefits some taxpayers, millions of freelancers, gig workers, and self-employed individuals, as well as those with small business, are still expected to pay their estimated tax payments for 2021. Megan Henney’s article for Fox Business reports on who is affected by the latest IRS policy changes. Read Ms. Henney’s article here…
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