CLIENT ALERT: 2020 Personal Income Tax Deadline Extended to May 17, 2021
3.22.2021
Both the IRS and New York have extended the due date for the filing of personal income tax returns and the payment of related taxes for the 2020 tax year from April 15, 2021 to May 17, 2021. The extension is automatic and no special forms need to be filed in order to be entitled to the extension.
The postponement includes individuals who pay self-employment tax, but does not apply to estimated taxes for the 2021 tax year which are still due April 15, 2021.
Individuals who need additional time beyond May 17, 2021 can request an extension to file until October 15, 2021 provided the 2020 taxes are properly estimated and paid by May 17, 2021 to avoid penalties and interest.
Preparing To Apply For Independent Restaurant & Bar Grants
03-15-21
A $28.6 billion restaurant and bar grant program will be made available soon. Members of the Independent
Restaurant Coalition partnered with members of Congress to craft the legislation.
While the Small Business Administration prepares to stand up the program, businesses should take steps to organize the materials necessary to submit an application once it is available. Click the link below for more information about the program, and what businesses can do to prepare for the application:
For more information click here.
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Understanding the Alternate Valuation Date