Renner Individual News; March 22, 2021—Joan M. Renner, CPA, CGMA

Virginia has moved the deadline for filing 2020 individual tax returns to May 17, aligning the Virginia due date with the new due date for federal returns. Last week, the IRS gave individual taxpayers until May 17 to file their 2020 federal returns.

While many taxpayers will benefit from this extra time, others will not. How will this change affect your tax filing deadlines?

Additional extension still available

You can still get an extension of time to file your 2020 Virginia individual income tax return until Nov. 1, 2021. No form is required.

Remember that this is an extension of time to file, not an extension of time to pay. Penalties for late payment will begin May 17.

Virginia Tax recommends e-filing

According to Virginia Tax, filing electronically is the fastest, easiest and most efficient way to file your return.

No change for Virginia estimated payments

Like the IRS, Virginia is NOT giving a break to individual taxpayers who need to pay 2021 estimated tax payments. First quarter 2021 estimated tax payments are still due May 1.

Here’s a recap of current filing deadlines

  • If you file Federal estimated payments, April 15 is still your due date for the first quarter 2021 estimated tax payment.
  • D.C. is still due April 15. The District of Columbia has not moved its individual filing deadline. 2020 D.C. individual returns and 2021 first quarter estimated payments are still due April 15.
  • If you file Virginia estimated payments, keep an eye on May 1. 2021 first quarter estimated payments are still due May 1.
  • Federal 2020 individual returns are now due May 17.
  • Virginia 2020 individual returns are now due May 17.
  • Maryland taxpayers get a break. 2020 Maryland individual returns and the first two 2021 quarterly estimated payments are due July 15, 2021.

What this means for you

In short, if you pay federal or Virginia estimated tax payments or file a D.C. return, you are NOT off the hook until May 17.

We’re here to help

As tax season continues, tax filing deadlines may continue to move. The Renner and Company team will monitor changes and keep you informed. We’ll continue to work to help you meet your filing deadlines for April 15, May 1, May 17 and beyond.

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