Texans have until June 15 to file “various individual and business tax returns” or make payments, according to the Internal Revenue Service.
This applies to all individuals and households affected by the severe winter weather in Texas the week of Feb. 15, the announcement stated. The IRS is capable of identifying people whose homes or businesses are in the affected area, but those who live or have businesses outside the disaster area need to notify the IRS, the announcement stated.
The relief extends to most tax returns including: individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift and generation-skipping transfer tax returns; annual information returns of tax-exempt organizations; and employment and certain excise tax returns
“Certain deadlines falling on or after Feb. 11, 2021, and before June 15, 2021, are postponed through June 15, 2021,” according to the statement.
“This includes various 2020 business tax returns due on March 15 and 2020 individual and business returns due on April 15. Taxpayers also have until June 15 to make 2020 IRA contributions.”
The deadline extension also applies to: fourth quarter estimated tax payments due on April 15; quarterly payroll and excise tax returns normally due April 30; and tax-exempt organizations who operate on the calendar year and have a return due May 17.
Penalties on deposits due on or after Feb. 11 and before Feb. 26 are to be abated as long as deposits were made by Feb. 26.
“If an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty,” the announcement added.