IRS Extends Filing and Payment Deadlines for Texas and Surrounding Areas

The IRS has extended the filing and payment deadline to June 15, 2021 for individuals and businesses who experienced disruptions due to the winter storm that hit Texas and other southern states the week of February 15th. This relief automatically applies to all taxpayers who reside or operate a business (including a not-for-profit business) in Texas, but may include others who were impacted by the storm.

Taxpayers who receive this relief may postpone filing returns and paying any associated tax due until June 15, 2021, if those returns were originally due to be filed on or after February 11, 2021 and before June 15, 2021. Taxpayers also now have until June 15, 2021 to make 2020 IRA contributions. Returns which may be postponed until June 15, 2021 include:

Individual Income Tax Form 1040
Estate and Trust Income Tax Form 1041
Partnership Income Tax Form 1065
Corporation Income Tax Form 1120
S-Corporation Income Tax Form 1120S
Gift Tax Form 709
Estate Tax Form 706

The June 15 deadline also applies to quarterly estimated income tax payments due on April 15 and the quarterly payroll and excise tax returns normally due on April 30. It also applies to tax-exempt organizations, operating on a calendar-year basis, that have a 2020 return due on May 17.

Other types of return may also qualify for relief, but certain filings are not covered and must be filed by their original due dates, including (but not limited to) Forms W-2 and 1099.

For any questions about the extended filing and payment dates, please contact your HM&M advisor.

For more information check out HM&M’s COVID-19 Resources page.

HM&M COVID-19 Resources