The Internal Revenue Service (IRS) has announced that victims of this month’s winter storms in Texas will have until 15 June 2021, to file various individual and business tax returns and make tax payments.
Following the recent disaster declaration issued by the Federal Emergency Management Agency (FEMA), the IRS is providing this relief to the entire state of Texas.
However, taxpayers in other states impacted by these winter storms that receive similar FEMA disaster declarations will automatically receive the same filing and payment relief.
IRS has stated that the 15 June deadline also “applies to quarterly estimated income tax payments due on 15 April and the quarterly payroll and excise tax returns normally due on 30 April”.
In addition, the relief applies to tax-exempt organizations, operating on a calendar-year basis, that have a 2020 return due on 17 May.
IRS said: “The tax relief postpones various tax filing and payment deadlines that occurred starting on 11 February. As a result, affected individuals and businesses will have until 15 June 2021, to file returns and pay any taxes that were originally due during this period.
“This includes 2020 individual and business returns normally due on 15 April, as well as various 2020 business returns due on 15 March. Among other things, this also means that affected taxpayers will have until 15 June to make 2020 IRA contributions.”