You may have read that the IRS this year has extended the traditional April 15 individual tax deadline to May 17. This extension applies to both the filing due date and the due date to pay any taxes due with the return.

However, the IRS has NOT extended the due date for making first quarter estimated tax payments (Form 1040-ES). That deadline remains April 15. Many business owners pay estimated taxes, so it is important to file your tax return by April 15 to correctly calculate those 2021 taxes.