(KNSI) – The Tax filing deadline has been pushed back a month but not for everything.
The tax deadline has been moved from April 15 to May 17.
Owner of Landwehr Tax and Accounting Cherie Landwehr spoke with KNSI’s Bob Hughes and said the deadline extension isn’t on all taxes.
“It’s just individual returns that have been extended. Trusts, estates, corporates, all of those are still the same deadlines as before.”
Even though the deadline has been pushed back, Landwehr says most people won’t want to wait to file.
“I would say don’t wait. However, there are some things that you may have to wait for. One of those is Minnesota is still sitting on a tax bill that hasn’t passed yet. So even though some federal changes have been made, we don’t know what Minnesota is going to do. So in some circumstances, you may have to wait to file. But you should still get your information to your tax preparer ASAP.”
She says there’s a lot of things that have passed on the federal side.
The unemployment payments aren’t taxable on the federal side, but Minnesota hasn’t conformed to that, meaning there will be state taxes on it.
Paycheck Protection Program money is not taxable at the federal level but is by Minnesota.
She says If those specific situations apply to your return, you may have to file an extension past the May 17 deadline, depending on when Minnesota passes tax law.
Landwehr says because of all the changes this year, people should work with a tax professional.
In 2020, the tax deadline was extended to July due to the coronavirus pandemic.
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Tax Deadline Extended for Most, Not All Filers - KNSI
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