Relief for victims of Texas storms ahead of the tax deadline

Published on 01/03/2021

The recent winter storms in Texas have led to the loss of property and have disrupted countless lives. While most citizens of Texas are busy rebuilding their lives and homes, the Internal Revenue Service has decided to give extra relief to the victims of the Texas storm. The IRS has extended the deadline for the Texas storm victims to file their income tax returns to June 15, 2021.

IRS’s decision comes after the Federal Emergency Management Agency issued a disaster declaration for Texas. The IRS has announced the extension of the deadline for the state of Texas however, the extension of the deadline will also apply to people affected by the storms in other neighboring states as well.

As per the latest extension, taxpayers in Texas will get relief for filing taxes that were due this month. Concurrently, taxpayers will now have until June 15, 2021, as the deadline for tax filing and payments for anything that was due post-February 11, 2021. The individual and business income tax returns for 2020 that were originally due on April 15, 2021, can now be paid until June 15, 2021. Similarly, the several business returns for 2020 can now be paid by June 15, 2021. In addition to tax filing, Texans can also claim the deadline for making IRA contributions until June 15.

The income tax payments due on April 15 will also come under the ambit of the deadline extension giving taxpayers in Texas additional time till June 15, 2021. The quarterly payroll and excise tax reruns normally due on April 30 will also be deferred to June 15 for Texans.

The tax filing and penalty relief can be claimed by any taxpayer with an IRS address located in the area of the disaster. The relief will be automatically provided to the eligible taxpayers and the taxpayers need not contact the IRS to claim the relief. However, if an eligible taxpayer is slapped with a penalty for late filing, they should call the helpline and claim the rebate.

People who are uninsured and are suffering unreimbursed losses related to disaster can claim the relief on the 2021 return or on the return for the prior year which is the upcoming tax season. For either of the options, write the FEMA declaration code ‘4586’ on the return to claim a loss.

Taxpayers who qualify for the relief outside of the disaster area should get in touch with the IRS at 866-562-5227 to claim the relief. Reach out to us at C19grants@mytaxfiler.com for more info on the rebate for Texans.


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