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Tax day 2021 change could hide a big state headache

The Internal Revenue Service and US Treasury Department announced a change to this year’s tax filing due date. Here in 2021, the tax filing due date (for the 2020 tax season) was extended from its previous date (April 15, 2021) to May 17, 2021. This does not necessarily affect the due date for taxes in your state. Each individual state still has their own due date for State Taxes, regardless of how the IRS changes their Federal Tax Due Date.

Federal and State date

When US taxpayers file taxes for the year, they generally do so for both Federal and State taxes all in one go. With this extension for Federal Tax Returns, the filing due date may not be affected for State Tax Returns. You may still need to file taxes for your STATE by April 15, even if your FEDERAL taxes aren’t due until May 17.

The Federation of Tax Administrators webpage has a list of webpages for State Tax Agencies. In this list you can click your state’s agency and find their latest ruling on the due date for state tax filing. It’s entirely possible that your state will also extend their due date to May 17 – but this move is not guaranteed.

If you’ve already filed taxes for the 2020 season here in 2021, you have nothing to worry about. If you were planning on filing taxes before April 15 anyway, no worries! If you were counting on filing all taxes after April 15, you SHOULD make sure your state’s due date isn’t still April 15.

Refund date

It would appear that this extension will not affect the time it takes for refunds to be sent. It is expected that if you’ve already filed your taxes and are owed a refund, you’ll still get said refund in the amount of time it would have taken had this extension not been granted. The extension is only in place to allow individual taxpayers an additional several weeks to get their affairs in order to file taxes for the 2020 tax season.

Take a peek at the timeline below for more updates in the last week on taxes, refunds, and stimulus checks. It’s been an interesting journey, navigating taxes and government money during this pandemic – and it’s not over yet!

Repost: Original Source and Author Link

Categories
Game

Sony PS5 restock plans have one huge headache

Earlier today, Sony delivered its financial results for the third quarter of its 2020 fiscal year, and within those results was the very first batch of PlayStation 5 sales numbers. Sony reported that the PlayStation 5 had sold 4.5 million units in that third quarter (which ended on December 31st, 2020), and that’s no small victory for the company. Demand for the PlayStation 5 seems to be very high – so high, in fact, that the console is selling out immediately whenever it goes in stock somewhere.

This, as many people know first hand, has resulted in a few very frustrating months for a lot of consumers. These availability woes have left a lot of people wondering when the restock issues will end and when the PlayStation 5 will be easily accessible, but it may not be for some time yet. According to Ars Technica, Sony indicated today that it’s currently grappling with a semiconductor shortage, and that is obviously having a negative effect on production.

“It is difficult for us to increase production of the PS5 amid the shortage of semiconductors and other components,” said Sony CFO Hiroki Totoki in a briefing as quoted by Ars. “We have not been able to fully meet the high level of demand from customers [but] we continue to do everything in our power to ship as many units as possible to customers who are waiting for a PS5.”

In addition, Sony confirmed today that it is indeed taking a loss on each PS5 console sold, but that doesn’t come as much of a shock. It’s a fairly common sight to see new consoles sold as loss-leaders as console manufacturers attempt to lay their claim in the new generation and grab as much market share as they can. At some point in the future, Sony will begin to make a profit on each console sold, but for now, the company is likely fine taking a loss if it means pricing the PlayStation 5 competitively.

So, assuming Sony isn’t limited by production line capacity as well, then we’re probably not going to see the stock issue with PS5s resolve until that semiconductor shortage is sorted out. When that might be is anyone’s guess, but for now, expect PlayStation 5s to be hard to find for weeks or even months to come.

Repost: Original Source and Author Link