If you are rushing today to get your income tax forms completed, take heart and ease up a bit. You have extra time to get it done.
The Internal Revenue Service last month announced it was extending the deadline for the filing of income taxes from April 15 to May 17. IRS Commissioner Chuck Rettig said in the announcement that “the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities.”
You can read the IRS announcement on its official website.
Mississippi Department of Revenue followed the federal lead and on March 22 announced it would also extend the individual income tax filing deadline to the same day, May 17.
The Department’s announcement said, “This extension only applies to the filing of the individual income tax return and payment of tax due. Penalty and interest will not accrue on the returns filed and payments made on or before May 17, 2021. “
This extension does not apply to the quarterly estimated payments due on April 15.
You can read the state announcement of the tax deadline extension on the Mississippi Department of Revenue website.
So, income tax procrastinators will have an extra month to make good with the government for the yearly rush to file their taxes.