The IRS has clarified in an FAQ that its filing and payment deadline relief for individuals includes installment payments under Section 965(h).
The IRS has postponed the April 15 filing until May 17 for 2020 individual income tax returns and 2020 individual income tax payments. Notice 2021-21 expanded this relief to cover:
- Filing a Form 4868 to extend the individual filing deadline to Oct. 15.
- Contributing to individual retirement accounts, Archer medical savings accounts, health savings accounts, and Coverdell education savings accounts
- Reporting and paying the 10% additional tax on 2020 distributions from IRAs or workplace-based retirement plans.
- Filing an individual refund claim if the period of limitations expires on or after April 15, 2021, and before May 17, 2021. This is limited to claims for credit or refund properly filed on the Form 1040 series or on a Form 1040-X.
- Applying to participate in the Annual Filing Season Program for the 2021.
The IRS FAQ now provides that individuals have until May 17, 2021, to make any installment payment under Section 965(h) that was due April 15, 2021.
The filing relief is still very limited and does not apply to Section 965(h) payments for other taxpayers, estimated tax payments due on April 15, or any other returns, such as for trusts (Form 1041), estates and gifts (Forms 709), or corporations (Form 1120). It also does not include state filing relief, though many states have mirrored the federal relief.
See “IRS expands filing and payment relief for individuals” for more information.
William E. Buchanan
William E. “Buck” Buchanan is the lead IRS Practice and Procedure subject matter expert in the Washington National Tax Office (WNTO).
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