Back on March 17, the Internal Revenue Service (IRS) announced an extension on the deadline to file everyone’s federal income tax. the new deadline for people to file their federal taxes is May 17. The date the taxes are usually due is April 15, which is nicknamed “Tax Day.”
The IRS. allowed the extension since the country is still facing the COVID-19 pandemic. Many state and local taxes are still due in April, as the deadline by the IRS only applies to federal taxes. A total of 35 states and Washington D.C. have extended the deadlines for their state taxes to May 17, including Pennsylvania, New Jersey and Delaware.
Students feel that the delays were necessary as they think that there is no downside to this.
“Well I feel it was definitely necessary with everything going on with the pandemic,” Mason Smith, sophomore accounting major, said. “With all these mailing delays within the post office and backups within the government when it comes to claiming unemployment, it seems like everything has been backed up, so giving everyone some extra time to sort out all their taxes seems to benefit both sides.”
Maryland announced an extension to file taxes by July 15, 2021. Unlike most states, Maryland’s new deadline also applies to 2021 first and second-quarter estimated tax payments.
“This continues to be a tough time for many people, and 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,” said IRS Commissioner Chuck Rettig in a statement. “Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to.”
“It gives people more time to get their taxes in especially for the year we have been having, it’s very stressful for people. So giving them an extension helps people who need it get whatever they need done, done.” said senior education major Amanda Lynn said. “It gives me more time to do my taxes especially with the busy senior year that I’ve been having.”
The IRS continues to deal with issues from the pandemic. Taxpayers are seeing more delays than usual this year, according to an update on March 25 from the Taxpayer Advocate Service, an independent office within the IRS that represents taxpayers.
The number of returns processed by the IRS as of April 2 was down about 10 percent from last year, according to statistics provided by the agency. But the start of this year’s tax season was delayed to allow the agency to update and test its systems to reflect tax changes approved by Congress late last year. The number of returns processed on comparable days of the season is up about 3 percent, the agency reported.
Some people have filed their taxes already so this extension doesn’t affect them.
“Honestly, I filed my taxes right away so it didn’t really affect me,” David Tilton, sophomore education major, said. “Because of COVID I don’t see a problem with it, I don’t see the need because everyone is already at home doing nothing, however maybe some people just felt safer waiting. Overall I don’t have a problem with it.”
Tax professionals say that it’s important to keep track of your income in 2021. Many people had lower incomes than usual during 2020 because of the pandemic and could see them rise in 2021 if the pandemic calms down and the economy recovers.
