Tag Archives: Tax Day May 17

The due date for Form 2290 is April 30th, which is right in the middle of both business and personal income taxes!

No one should argue that we have a list of taxes scheduled to begin in March. It all starts with your business taxes and progresses to your personal taxes. Are these the only two taxes that must be paid, No!

For vehicles that entered service last month for the first time since July 2020, your Federal Excise Tax Form 2290 (HVUT) is due by the end of the month, just as it is every month. To clarify, any heavy vehicle with a gross weight of 55,000 lbs or more that was first used on the road in March 2021 and has been on the road since July 2020 is required to file a Federal Excise Tax Form 2290 (HVUT) by April 30, 2021. To collect your stamped schedule-1 copy in minutes, it is highly suggested to e-file your form 2290s.

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THE DEADLINE FOR FILING INDIVIDUAL INCOME TAXES HAS BEEN OFFICIALLY EXTENDED TO MAY 17TH.

The Internal Revenue Service and the Treasury Department have extended the deadline for filing your taxes by one month, from April 15 to May 17. Since May 15 falls on a Saturday, the date has been pushed back to Monday, May 17. Last year, the IRS extended the deadline by three months, to July 15, but this led many taxpayers and taxprofessionals to miss other quarterly deadlines.

Individual taxpayers may also defer payments for the 2020 taxyear, which are due on April 15, 2021, until May 17, 2021, without penalty or interest, regardless of the amount owed. Individual taxpayers, including those who pay self-employment tax, are liable for this postponement. On May 17, 2021, penalties, interest, and tax additions will begin to accrue on any remaining unpaid balances. Individual taxpayers who pay their taxes by May 17 will be excluded from interest and penalties.

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