Updated: March 17, 2021 11:21 PM
Created: March 17, 2021 03:04 PM
ROCHESTER, N.Y. (WHEC) — The Internal Revenue Service is extending the tax filing deadline about one month from April 15 to May 15, according to CNBC.
Taxpayers will have additional time to file their 2020 tax returns and pay any amounts owed to the IRS. Because May 15 falls on a Saturday, CNBC reported the final deadline for filers may be the following Monday, May 17.
In January, the IRS pushed back the start of tax season to Feb. 12 to give the agency more time to prepare following the December COVID-19 relief bill, which included a second round of stimulus checks that the IRS was in charge of delivering. At the time, the agency kept the typical April 15 filing deadline.
The IRS is now issuing the third round of stimulus payments as part of the recently passed $1.9 trillion coronavirus relief bill.
Some say they see a benefit to waiting a little longer before utilizing your W-2.
"If there are any worms to get out of the mix or any issues to fix it doesn't hurt to wait a bit so you don't have to go through them yourself,” Andrew Marriam, who is waiting to file his taxes, said.
It’s no secret that the pandemic has made filing taxes more confusing than usual. With all the government programs like stimulus checks and the shift in unemployment people that have already filed are warning others about paying attention to their numbers.
"I would say it’s all about good luck because that's the one thing that I've heard a lot of people that filed already is that it’s not being filled correctly so just being diligent on how they fill it out and making sure they have the proper information,” Maxwell Fish, who filed early, said.
Tax experts say the IRS may be a little behind getting people their returns, but to be fair, the season got a late start. Normally it’s in January, this year, tax season started in February. They also say there really isn't a benefit to waiting, even though there could be some glitches in the system.
"If it's unemployment to your specific situation or managing and reconciling stimulus you received versus what you think you're entitled to, take your time to sort this out, that's why the government allows people to file for an extensive amount of time,” Tax Partner Jim Schnell said.
Doing your own taxes can be scary, especially now with more elements to work with. Schnell says he encourages people to do it, and mistakes can be fixed.
"If a taxpayer makes a mistake on their return or has left money on the table they can always file an amended return to make that correction to receive a refund of any tax money that is due to them,” Schnell said.
With the extension to May 15, a Saturday, tax experts say technically the due date to file would fall on May 17.
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