The COVID-19 outbreak in the United States has continued to cause business disruptions across the industry. In response, the IRS has extended certain filing and payment due dates. The federal income tax filing and payment due date has been automatically extended from April 15, 2021, to May 17, 2021. The Massachusetts Department of Revenue has also extended the filing deadline, accordingly. Estimated payments for 2021 taxes are still required to be made in accordance with the current due dates.
The U.S. Department of Housing and Urban Development (HUD) extended the HUD REAC submission for December 31st year end entities from March 31st to June 30th. This does NOT apply to FHA-Lenders, nor Public Housing.
Furthermore, the Office of Management and Budget (OMB) is allowing organizations to delay the completion and submission of the Single Audit reporting package to 3 months beyond the normal due date for recipients and subrecipients that received COVID-19 funding with original due dates from October 1, 2020 through June 30, 2021. The extension does not require individual recipients and subrecipients to seek approval, however, organizations should maintain documentation for the reason of the delayed filing. Organizations taking advantage of this extension would still qualify as a “low-risk auditee”.