As mentioned in a prior blog post, 2020 tax year federal tax filing deadlines for Texans were postponed. As a result of the February 2021 winter storm that wreaked havoc on Texas, the IRS announced in late February that victims of the storm would have until June 15, 2021 to file various federal tax returns, and make relevant payments. Pursuant to IRS guidance, affected taxpayers include individual and business residents of all 254 counties in Texas.
This relief encompasses individual and business returns ordinarily due March 15 and April 15, quarterly returns typically April 30, and certain calendar-year filings. Specifically, in accordance with IRC § 7508A, affected taxpayers have until June 15, 2021 to file most tax returns, that have either an original or extended due date occurring on or after February 11, 2021 and before June 15, 2021, 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. Postponing payments to the automatically extended deadline will not result in penalties or interest and no form or request is necessary to avail oneself of the automatic extension. Note also that this relief allows Texans to make 2020 IRA contributions until June 15, 2021.