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If you are late on filing your taxes, don't worry!
Normally, your taxes are due on April 15th, but this year you'll have another month to file your 2020 return. The filing deadline's not the only thing that has changed. Due to the ongoing pandemic, there are plenty of new and revised provisions and important dates you'll need to know before filing your 2020 return this year.
The IRS pushed the deadline to May 17th to give individual filers, tax preparers and the IRS more time to sort through the many changes affecting 2020's taxes from the latest COVID relief package. Unless you choose to file for an extension, you must file and pay any remaining federal income taxes you owe for 2020 by May 17th. This is so you will avoid being hit with any potential late filing or late payment penalties. If you do miss your payment deadlines, you may be eligible for first-time penalty relief.
For more info, click here.