Summary of Deadline Extensions for 2020 Tax Season

In our March and April 2021 Tax Alerts, we analyzed the scope of the deadline extensions recently announced by the IRS and the Puerto Rico Treasury Department for 2020 income tax returns and income tax payments. Various local tax authorities and governmental agencies have declared additional extensions for annual dues, and reports for individuals and businesses after said publications.

Furthermore, the federal government has also extended the deadline for applying for various economic aids, including the Paycheck Protection Program. The following is a summary of current deadline extensions.

Tax Filing/Program

       Tax Form

Original

Due Date

Extended Deadline

U.S. Income Tax Returns

Form 1040 Series

Abril 15, 2021

May 17, 2021

Puerto Rico Income Tax Returns for Pass-Through Entities

Form 480.20(EC)

March 15, 2021

April 15, 2021

Income Tax Returns for Taxpayers with an original due date of April 15, 2021

Form 480.20

Form 482.0

 

April 15, 2021

 

May 17, 2021

Income Tax Return for Taxpayers with Fiscal Year or Short Year for 2020 with an April 15 deadline.

As applicable

 

April 15, 2021.

 

 

May 17, 2021

Income Tax Return for Non-For-Profit Entities

Form 480.70(OE)

June 15, 2021

Not yet extended.

Income Tax for Corporations with a Tax Grant (Exempt Corporations)

Form 480.3(II)DI

June 15, 2021

Not yet extended.

First Installment of the 2021 Estimated Tax

Form 480.E-1

April 15, 2021

June 15, 2021

Second Installment of the 2021 Estimated Tax

Form 480.E-1

June 15, 2021

June 15, 2021

Second Tax Installment Payment for Certain Individuals

 

As applicable

October 15, 2021

November 17, 2021

Volume of Business Declaration (Municipal)

As applicable.

April 22, 2021

May 24, 2021

Corporate Annual Report (Dept. of State)

N/A

April 15, 2021

May 17, 2021

Personal Property

Tax Return

Form AS-29

May 17, 2021

Not yet extended.

Paycheck Protection Program (PPP) Loan Application

N/A

March 31, 2021

May 31, 2021

Our tax advisors can help with this and other tax-related topics. Contact them by email at [email protected] or phone at 787-751-6164.