IRS extends tax deadline for Texas residents

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IRS gives Texans till June 15, 2021 to file tax returns

The IRS has extended the deadline for filing tax returns for Texas residents due to expected delays brought about by the severely disruptive weather event that the state experienced in mid-February.

Texas residents now have until June 15, 2021 to file their Federal tax returns. The new deadline applies to both individual and business taxes and to payments.

Most tax filings and payments due during the period starting February 11, 2021 through the regular April 15 deadline will now be due on June 15. Tax payers also have until June 15 to make contributions to an IRA account. Quarterly estimated taxes due on April 15, 2021 will now be due on June 15, 2021 as well.

However, penalties on payroll and excise tax deposits due on or after February 11 and before February 26 will be abated as long as the deposits are made by February 26, 2021.

The IRS disaster relief page offers more details for tax filers and preparers who wish to take advantage of the extended deadline.

The recent disaster declaration for the state made by the Federal Emergency Management Agency gives Texas residents access to various relief programs offered by the Federal government, and the IRS extension is part of that relief.

Because of the widespread occurrence of mass power outages, broken water pipes and impassable roadways, Texans are assumed to have experienced unavoidable delays. The IRS deadline extension will give tax filers more time to recover receipts lost to water damage and to get their lives and businesses back to normal before having to undertake the tasks associated with the usual tax deadlines.

What’s more, the IRS will allow costs for property damage from the 2021 winter storm that cannot be recovered through insurance or other means to be declared as a loss on 2020 tax returns, even though the loss did not occur in the previous year.

The tax relief is part of a coordinated Federal response to the damage caused by the severe weather that brought Texas to a standstill for a week.

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