The governor announced on the 3/19 that Missouri would follow the federal tax deadlines. The Department of Revenue has updated their information to reflect the same.
So the good news is, we know Missouri and Federal deadlines for the tax returns and payment of the returns are both due May 17. However, the estimated payments for 2021 are still due April 15.
Also we are still waiting for state guidance on how they will handle the American Relief Act. We are specifically waiting to see if Missouri excludes a portion of unemployment income from taxable income for 2020.
Federal has passed the law to exclude up to $10,200 of unemployment depending on income limits. However, forms have not yet been released so software companies are not able to get those out to preparers.
Please continue to be patient with your tax prepares like us; we’re working hard to get you a return that is correct that will not need future changes even as the government makes ongoing announcements.
The Wassman CPA Services website and blog is meant to offer general information to our readers. The information provided is not intended to replace or serve as a substitute for any accounting, tax or other professional advice, consultation or service. You should contact Wassman CPA Services for advice concerning specific matters prior to making any decisions.