Tax deadlines extended for individuals
Last updated 3/23/2021 at 3:57pm | View PDF
The IRS has extended its filing deadline to May 17, and the state of Colorado followed suit.
The Colorado Department of Revenue announced that it will extend the individual income tax payment and filing deadline by 32 days to May 17, without penalties and interest, regardless of the amount owed. This extension will be similar to the Internal Revenue Service (IRS) extension.
Individuals will have the option to pay any 2020 income tax payments that would normally be due on April 15, 2021, by May 17, 2021, without penalty or interest. This extension applies to money owed by individual taxpayers only for the 2020 income tax year. The extension will not apply to estimated payments for the 2021 income tax year due from individuals and corporations on April 15, 2021. The extension also does not apply to returns and payments for other tax types and taxpayers, including income tax for C corporations, partnerships, S corporations and fiduciaries and severance tax.
Individual taxpayers do not need to file any forms or call the Colorado Department of Revenue to qualify for this automatic state tax payment relief. Individual taxpayers who need additional time to file beyond the May 17 deadline are automatically granted a filing extension until Oct. 15, but that does not grant an extension of time to pay taxes due. Individual taxpayers should pay their state income tax due by May 17, 2021, to avoid interest and penalties.
Individuals that received unemployment benefits in 2020 and already filed their federal return should continue to monitor guidance from the IRS in the coming days with the recent passage of the American Rescue Plan.
Please visit TAX.colorado.gov for more information.