On Monday February 22, 2021, the IRS said it is giving all Texas residents and businesses an additional two months to file their federal income taxes, citing the deadly winter storm that left millions without power and water. Texans will now have until June 15, 2021 to file their 2020 returns, instead of the regular deadline of April 15, 2021.
Additionally, the extension also includes any taxes that would have been owed by April 15, 202. It also includes business returns that otherwise would have been due on March 15, 2021. Texans will have until June 15, 2021 to make 2020 IRA contributions as well.
The extension will be automatic for anyone living in Texas, meaning they will not have to file forms requesting more time to file.
Residents of other states affected by the same storms and accompanying disaster declarations may also qualify for the same delay. The IRS will update the list of eligible locations on its disaster-relief website.
Virtus Law, PLLC continues to monitor developments in this area and will continue to post relevant updates to this website.