Hello my American friends! Due to the COVID-19 pandemic, the federal government extended year 2020’s federal income tax filing deadline from April 15,2021 to May 17,2021.
And, if you missed the May 17,2021 deadline to prepare 2020 Tax return and you filed an extension with form 4868, you can file your tax return by October 15,2021.
(1) If you OWE taxes, file as soon as possible even if you can’t pay anything now. Because it will reduce your late filing penalties.
(2) If you DON’T OWE owe taxes for Tax Year 2020, you will not be subject to a late filing penalty.
(3) If you expect a TAX REFUND you should file your return to get your refund. After May 17,2024, you will no longer be able to claim your 2020 tax refund.
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