FEDERAL AND STATE ESTIMATED TAXES STILL DUE APRIL 15, 2021

March 22, 2021 Posted by: Category: Blog No comments

2021 Quarter 1 Federal and State Estimates are Still Due April 15, 2021.

Many states are now joining the Federal government in moving the due date of tax returns for Individual Only (1040) returns to May 15, 2020.
BUT all are still requiring First Quarter 2021 Estimated taxes to be paid on or before April 15, 2021.

We will be preparing blank Q1 2021 Estimated tax payment vouchers for those who usually pay estimates and will be going on extension. They will be uploaded to your portal no later than April 7th.

If your return is one that will not be ready by April 15, 2021, we recommend that you pay at least the same amount you paid in 2020 since we won’t know your 2020 tax until we complete your return.
You are required to pay at least 100% of the 2020 tax or 90% of your 2021 tax.  (For some high earners it is 110% of 2020 tax.)

Below is a list of the states we know so far that have extended the filing date to May 17, 2021.
This list is not comprehensive but represents the states in which we have clients.

  • All New England states: MA, NH, VT, ME, CT, RI
  • CA, CO, NY, NJ, NC, PA, KY, OH, SC, GA
  • MD TO July 15, 2021
  • AZ has not made a decision at this time

About 

Paul Dion - Speaker, Author, and Tax Advisor - has been planning and preparing returns for business owners for over 25 years with a specialty in helping real estate agents and investors. His passion is to help business owners legally pay the least amount of tax using court-tested and IRS-approved tax strategies. In addition, he continues to advance service offerings to include income saving strategies designed to deliver higher profits to your business.