BATON ROUGE, La. -- Louisiana individual and business taxpayers will have an extra month to pay their taxes this year.
The Louisiana Department of Revenue today granted automatic filing and payment extensions to those affected by severe winter weather in February. The extension applies to income, excise, franchise, sales, severance and withhold taxes.
For income and franchise taxes, the extension applies to all taxpayers and paid tax preparers in Louisiana regardless of parish. The due date is now June 15 instead of May 15.
For excise, sales, severance and withholding tax returns and payments due on or after Feb. 11, 2021, and on or before Feb. 28, 2021, the automatic extended due date is March 31, 2021. This extension is available to all individual and business taxpayers in Louisiana, regardless of parish of residence.
The state's decision follows an announcement Wednesday by the Internal Revenue Service that federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15 to May 17.
"This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities," said IRS Commissioner Chuck Rettig. "Even with the new deadline, we urge taxpayers to consider filing as soon as possible, especially those who are owed refunds. Filing electronically with direct deposit is the quickest way to get refunds, and it can help some taxpayers more quickly receive any remaining stimulus payments they may be entitled to."
Individual taxpayers can also postpone the federal income tax payments without penalties and interest, regardless of the amount owed. This postponement applies to individual taxpayers, including individuals who pay self-employment tax.
Penalties, interest and additions to tax will begin to accrue on any remaining unpaid balances as of May 17. Individual taxpayers will automatically avoid interest and penalties on the taxes paid by May 17.