Well, they get one thing – an extra $5500 in dependent care FSA, if employer allows it. And since a contribution results in a 1:1 reduction in wages, it could make one eligible for other prizes.
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These cliffs entice people to do things like: file taxes now with $X of missing income that gets you below the phaseout. Then file 1040X with corrected income…
The dumb thing about all these stimulus checks and phaseouts is that for most people, the incomes they are using for their initial targeting ( 2018 and 2019 ) have nothing to do with that person’s situation in the pandemic. Yes you can reclaim the credit a year later, but focusing so much on targeting to income from unaffected years is puzzling. It would make much more sense if they targeted a difference between 2018/2019 and 2020 income. Those are the people that are the hardest hit. If you made $50K in 2019 and $50k in 2020, why do you need stimulus ( this is also the retired population argument ) ? Your income was unaffected. If they needed stimulus with unaffected income, then the same argument could be made that they need permanent supplemental checks to boost their income.
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good point. for e.g New PPP forgiveness criteria does check for 25% reduction.
I wonder if the 1040X will factor in the credit somehow
It helps the IRS too ( they still haven’t processed my paper return from 10/2020! )
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Looks like IRS pushed it back to May 17: https://www.cnbc.com/2021/03/17/irs-pushes-april-15-us-tax-deadline-to-may-15.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1616004350
(technically it should be May 17 since the 15th is a Saturday)
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Thanks for the update on the planned extension. I’ll keep an eye out here for an official announcement:
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Is TX July now or still Jun?
Here’s the announcement. No extension on estimated tax, although the loophole would be to prepay via Form 4868 and apply the refund to 2021. https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline
Thank you, calwatch, for posting. That is great news!!
Not happy they did not also move date for estimated tax payments. Means I still have to do my taxes by 15 April in order to find out what my estimated payment will be. Oh, well.
The dumb thing is that you could probably remit a payment with a timely filed Form 4868 and have it count as an on time payment.
Any way to edit the title of this thread? 
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Yep.
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Or infernal. Yeah, it’s an old joke, but it still fits.
With the IRS having extended the Federal tax filing deadline into May, you might now be wondering about your STATE tax filing deadlines:
Executive summary: Some state deadlines have been extended, others have not.
More information regarding the tax filing deadline for your particular state can be found here:
Which States Have Extended Their Tax Deadlines?
Please scroll down just a bit.
Note that some states have not yet extended, but plan to do so.
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Thank you, Senator @shinobi. I am pleased to see, from your links, that all three states that I have to deal with have blessed me with a postponement. Yippee!
Bummer
- Arizona: The deadline is still April 15 for state taxes, but the Arizona Department of Revenue says it will consider an extension.
I hope we’ll know soon if not I 'll just pay them a little extra for now…
Special post for buckeyes only:
Ohio will not be extending its state tax filing deadline. The Ohio deadline remains 15 April.
Source: WLW (AM 700 - Cincinnati) news report
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That’s wrong. They matched the IRS deadline last Wednesday. It’s the main article on the Ohio Department of Taxation website.
Here a quote from the announcement: "Ohio Tax Commissioner Jeff McClain today announced that Ohio will be following the federal government and IRS in extending the deadline to file and pay Ohio individual income and school district income taxes for tax year 2020.
The new deadline is May 17, an extension of approximately one month from the original deadline of April 15. "
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The deadline has officially moved to May 17 including for retirement contributions:
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For anyone in NC, the filing deadline is delayed, but it’s similar to filing an extension. If you owe taxes, they’re still due on Apr 15. 
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