On April 5th, Governor Ducey signed SB 1297 moving Arizona’s filing and credit deadlines to May 17th coinciding with the federal filing deadline for tax year 2020. Arizona donors may now give for tax year 2020 thru Monday, May 17th. See below ADOR Notice.
How does the moving of the credit deadline effect award distribution timing? Students still have the opportunity to receive AZTO awards for this current school year. AZTO has one final award cycle for the 2020-2021 school year scheduled for May 7th. The giving deadline for this award cycle remains April 15th. Any contributions received after April 15th will be held for the 2021-2022 school year. AZTO’s first all schools award cycle of the 2021-2022 school year is scheduled for July 20th.
2021 Tax Due Date Update ADOR Extends Income Tax Deadline to May 17, 2021
This follows the Treasury Secretary announcement that the Internal Revenue Service (IRS) has moved the deadline for 2020 federal individual income tax returns to May 17, 2021.
The extended deadline only includes individual returns.
The new deadline means taxpayers who file and pay after the previous April 15 deadline will not be assessed late filing or late payment penalties.
Taxpayers anticipating that they will need more time beyond the new May 17 deadline to file state individual income taxes should consider filing for an extension by submitting Arizona Form 204 by May 17. Taxpayers do not need to submit Arizona Form 204 if they have already received a federal extension from the IRS.
Additionally, the Arizona Department of Revenue advises taxpayers they now have until May 17 to contribute to certified qualifying charitable organizations, qualifying foster care charitable organizations, school tuition organizations, and public schools to claim the tax credits on their 2020 individual income tax return.
Individuals should ensure to file accurate tax returns. Here are some key tips:
- E-file. Electronic filing is more accurate, secure and faster.
- Ensure all the necessary lines and forms are filled out correctly. Avoid math errors or miscalculations.
- Don’t misspell names or use two different names.
- Make sure key information like tax ID number, Social Security number, routing number or account number are correct in all the appropriate boxes.
- If filing a paper return, use black ink and print on white paper.
- Do not staple or attach anything to paper returns.
- Don’t forget to sign and date the return.
The Arizona Department of Revenue encourages taxpayers to file electronically, as e-filing is more efficient, more secure and refunds are processed faster than refunds from paper tax returns.
Check out the Arizona Department of Revenue’s FAQs website at https://azdor.gov/news-notices/faq-during-tax-season for information.
Monday, April 5, 2021