77ºF

Ad

Texan taxpayers affected by winter storms have two extra months to file their returns this year, IRS says

Individuals, businesses included in disaster declaration have until June 15 to file taxes, pay IRS

SAN ANTONIO – The Internal Revenue Service is extending tax season deadlines for Texans affected by last week’s winter storms.

Individuals and businesses included in the Federal Emergency Management Agency’s recent disaster declaration now have until June 15, 2021, to file their tax returns and pay anything they owe to the IRS.

The extension applies to certain deadlines that initially fell after Feb. 11 and before April 15.

For example, individual tax returns and quarterly estimated income tax payments -- typically due on April 15 -- are now due on June 15. The extension also applies to tax-exempt organizations that operate on a calendar-year basis and have a return due on May 17, 2021.

CLICK HERE TO READ MORE “MONEY: IT’S PERSONAL’ STORIES

Ad

The IRS says affected taxpayers in a federally declared disaster area have the option to claim disaster-related casualty losses on their federal income tax return. They can include their claim in either the year in which the event occurred or the prior year.

Affected taxpayers can deduct personal property losses not covered by their insurance or through other reimbursements, according to the IRS.

For more information on the IRS’s changes for those affected by the winter storms, click here.

RELATED: Filing a tax return? Here are some ways to avoid scams and keep your personal information safe.


About the Author: