What is the due date for payment of income tax?
The last day for filing income tax returns for FY 2020-21 is 31st December 2021 for most individual taxpayers. The last date for income tax return filing for taxpayers whose accounts need to be audited is 15th February 2022.
What is the deadline to pay taxes 2020?
April 15, 2020
This filing and payment relief includes: The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020.
Is income tax due date extended?
Income tax return filing deadline for Assessment Year 2021-22 for specific taxpayers has been extended till March 15, 2022, a finance ministry statement informed. The previous deadline for filing income tax return was valid till December 31, 2021.
What is the deadline to pay taxes 2021?
The IRS had no plans to extend the tax-filing deadline for the 2020 tax year, but it later changed course and pushed the standard April 15 deadline to May 17, 2021. The agency also delayed Tax Day the year prior (for the 2019 tax year) in response to the COVID-19 pandemic.
What is the deadline for taxes in 2021?
After a hectic 2020 filing season, the 2021 season appears to be returning to the norm: The deadline to file 2021 federal taxes for most people is Monday, April 18, the IRS announced Monday, as April 15, Emancipation Day, is a holiday in Washington, D.C.
Are taxes due April 15th?
April 15 is traditionally tax deadline day for the Internal Revenue Service. April 18 will also be the deadline to request an automatic extension for an extra six months to file a return though the payment of taxes remains the same. Other deadlines. Employers have until Jan.
Will the 2022 tax deadline be extended again?
Although the last two tax filing seasons were significantly impacted by the Covid-19 pandemic, and the IRS extended both deadlines, the IRS is not expected to extend the tax filing deadline for 2022.
What happens if I miss the tax deadline?
The penalty you will pay for not filing on time is 5% of your unpaid taxes for each month your return is late, with a maximum penalty of 25%. For each month you don’t pay, the IRS charges . 5%, and up to 25%. Penalties can add up to almost 50% of your tax bill.