The federal income tax filing deadline has been extended from April 15, 2021, to May 17, 2021 (IRS-2021-59). Taxpayers can also defer federal income tax payments from April 15, 2021, to May 17, 2021, without normal penalties and interest regardless of the amount owed. This deadline extension only applies to federal taxes; individuals should check their state’s tax filing deadline as it may vary by state. The amount of time that individuals have to make 2020 health savings account (HSA) contributions has also been extended to May 17 (IRS 2021-21).

This notice also extends the due date for Form 5498-SA to June 30, 2021.

The HSA contributions deadline extension will not impact any 2020 IRS 1099-SA forms necessary for filing taxes, which show 2020 HSA distributions.

2020 IRS form 5498-SA (which is informational only and not required for filing taxes) will be updated for any 2020 HSA contributions made through the May 17 contribution and filing deadline.

The State of Arizona has announced it has moved the deadline for filing and paying state individual income taxes from April 15 to May 17, 2021. Additionally, the deadline for the first quarter tax year 2021 individual estimated tax payments remains April 15, 2021.

The State of Ohio announced on March 24 the tax filing deadline was extended to May 17, 2021, to mirror the federal tax filing extension.

The State of Texas deadline to file a federal tax return has been extended to June 15, 2021, for all Texas residents and businesses.

Many states are still determining how they will handle it. Please check in with your state directly. If your employees have already filed their 2020 taxes or have additional questions regarding tax impact, please advise them to consult a tax professional.

Disclaimer: EBI and any of its employees do not provide legal or tax advice. Compliance, regulatory and related content is for general information purposes and is not guaranteed to be accurate or complete. We recommend you should consult an attorney or tax professional regarding the application or potential implications of laws, regulations or policies to your specific circumstances.