Thursday, April 15, marks the original tax filing date for Pennsylvania. But don’t panic– the IRS gave the state a reprieve this year, extending the tax filing deadline to May 17 for both federal and state taxes.
The extension provides more breathing room for both taxpayers and the IRS to cope with pandemic-induced changes.
The IRS says if residents are going to owe money this year, they won’t face any further penalties or interest if taxes are filed and paid for by May 17, 2021. Tax accountants say that’s good news because a lot of people have questions this year.
“If you haven’t gotten all your stimulus money, or if you got unemployment or if you were self employed because of the COVID, those are three very complex areas, you really shouldn’t go it alone if you have any questions,” said Mark Seteber, chief tax information officer for Jackson Hewitt Tax Service.
Small business owners in Pennsylvania who got a PPP loan last year will be able to deduct expenses paid with that loan on their 2020 taxes.