IRS Extends 2021 Tax Filing Deadline To May

The IRS has extended the federal tax filing deadline from April 15th to May 17th to accommodate changes due to the pandemic and recent tax law updates. The COVID relief package exempts the first $10,200 of unemployment benefits from federal taxes. Taxpayers needing more time can request an extension until October 15th, but this does not affect estimated tax payments or state tax deadlines.

What is the new deadline for filing federal taxes in 2021?

• June 15th

• July 1st

• May 17th

• April 15th

Why did the IRS delay the tax filing deadline?

• To align with state tax deadlines

• To provide more time for taxpayers and the IRS due to pandemic-related changes

• To implement new tax software

• To increase tax revenue

What recent tax law change affects unemployment benefits?

• Unemployment benefits are taxed at a higher rate

• The first $10,200 of unemployment benefits are exempt from federal taxes

• All unemployment benefits are now taxable

• Unemployment benefits are no longer reported

Until when can taxpayers request an extension for filing their taxes?

• August 15th

• November 15th

• September 15th

• October 15th

Which of the following is NOT affected by the new federal tax deadline extension?

• Guidance on tax law changes

• State tax deadlines

• Unemployment benefits tax exemption

• Federal tax filing deadline