Federal and Georgia 2020 Individual Income Tax Return Deadline Extended,
But Action by April 15 May Still Be Needed

The deadline for filing your federal and Georgia individual income tax returns has been extended until May 17, 2021. The announcement was made this week by the Treasury and the IRS, and applies to individuals for the 2020 tax year. Yesterday Georgia announced that it would follow the May 17 federal extension for 2020 individual income tax returns as well. That means individuals can also postpone federal and Georgia income tax payments that would otherwise be due with the 2020 individual income tax returns until the same May 17 deadline without penalties and interest.

Need more time? Extensions are still available for individual taxpayers who need additional time to file beyond the May 17 deadline. Automatic extension until October 15, 2021, can be requested, but you would still need to pay any 2020 federal and Georgia income tax balances due by May 17 to avoid interest and penalties.

What Isn’t Extended

Note that the extension to May 17 does not yet apply to all tax returns or payments typically due by April 15.

  • Estimated tax payments (including the federal and Georgia first quarter 2021 estimated tax payments) are due by April 15, 2021, and currently need to be paid by that date.
  • Some state income tax returns are still due by April 15, 2021. While Georgia has followed the federal extension of May 17, many other states have yet to conform with the IRS deadline, meaning that if you file in states outside of Georgia, you may still need to file those state individual income tax returns by April 15.
  • Other tax returns that are due by April 15, 2021, (for example, C corporations and trusts tax filings) are still due then. Extensions for these returns must be filed by April 15.

Don’t Wait Until the Last Minute

While the May 17 extension provides taxpayers additional time to navigate the unusual circumstances related to the pandemic, we continue to diligently work toward completing your individual income tax returns as soon as possible. This allows you time to prepare for your tax obligations or accelerate any potential income tax refunds.

We will monitor and keep you posted regarding any further updates to the upcoming tax filing deadlines as additional guidance is provided.

Read more information on Georgia’s extension.

In the meantime, if you have any questions or need any additional assistance with your 2020 income tax filings, please contact your Windham Brannon tax advisor.