The Internal Revenue Service (IRS) has announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund.
This follows a previous announcement from the IRS on March 17, that the federal income tax filing due date for individuals for the 2020 tax year was extended from April 15, 2021, to May 17, 2021.
As part of the extension, tax year 2017 Federal Income Tax Returns can also be claimed until May 17, 2021. The US law provides a three-year window of opportunity to claim a refund.
According to the IRS, if taxpayers do not file a return within three years, the money becomes “property of the U.S. Treasury”. The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by the May 17, 2021, date.
In addition, tax preparers interested in voluntarily participating in the annual filing season program (AFSP) for calendar-year 2021 now have until May 17, 2021 to file their application with the IRS.