Taxes & Due Dates

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Taxes and due dates

The Federal tax deadline has been pushed back to 5/17.  If you make estimated tax payments, the 1st Q is still due 4/15.  This can be difficult to calculate since you have to have your tax return ready in order to accurately determine the amount of your 1st Q payments.  What can you do if you are unable to determine how much to pay in the 1st Q?  My suggestion is to file a tax extension and make a payment with it by 5/17/21.  You want to overpay when you file the extension to include 1st Q 2021 taxes.  Doing so will allow you to have until 5/17 instead of 4/15 to file and pay your 1st Q taxes.

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