FEDERAL TAXES DUE 2021 HOW TO

SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.Д¬HECK OUT: How to make money with creative side hustles, from people who earn thousands on sites like Etsy and Twitch via Grow with Acorns+CNBC.Дisclosure: NBCUniversal and Comcast Ventures are investors in Acorns. 'I don't know what that's going to look like.' 'I would reasonably expect that all of these things - HSAs, IRAs, amended tax returns from 2017 that would have a cutoff of April 15 - all of those things ultimately will be pushed back to May 17,' said Adam Markowitz, an enrolled agent with Howard Markowitz PA CPA in Leesburg, Florida. Last year, when the tax-filing season was also extended due to the Covid-19 pandemic, almost all deadlines were pushed back to the same day - July 15, 2020.Д«ut so far, the IRS hasn't given any guidance about if taxpayers have more time to contribute to HSAs or IRAs, meaning some may want to make those contributions before April 15. The top marginal income tax rate of 37 percent will hit taxpayers with taxable income of 523,600 and higher for single filers and 628,300 and higher for married couples filing jointly. There's also confusion around whether the May 17 federal deadline also applies to individual retirement account or health savings account contributions for 2020. In 2021, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (Tables 1). More from Invest in You: Equal Pay Day highlights a $1 million salary shortfall for some women How to manage your money, boost your savings and start investing Women are more financially stressed than ever.

The first quarterly payment is still due April 15.

Beyond the misaligned tax filing dates in some states, the IRS extension didn't apply to quarterly estimated tax payments, generally made by those with self-employment income, interest, dividends, alimony or rental income. Still, taxpayers should keep these different deadlines in mind and work to prepare their returns sooner rather than later. Of course, the states with earlier filing dates could still push back their deadlines to match or come after the May 17 federal Tax Day. 'To do the state you've got to do your federal anyway,' said Losi. That's usually why federal returns are due before, or at the same time, as state returns, he added. 'A lot of states, their starting point is the federal AGI,' Losi said, referring to adjusted gross income calculated on an IRS Form 1040. Taxpayers who live in states with earlier filing deadlines than federal Tax Day may not get to take advantage of the federal extension, said Ryan Losi, a CPA with Piascik based in Richmond, Virginia. What deadlines mean for taxpayers in those states

Federal taxes due 2021