IRS Issues Deadline Relief for Victims of Recent Winter Storms
The IRS issued news releases announcing the postponement of certain tax-related deadlines for both Texas and Louisiana victims of severe winter storms. The tax relief postpones various tax filing and payment deadlines that occurred starting on February 11. The entire states of Texas and Louisiana are included in this relief. Taxpayers in other locations will automatically be added to this relief if the disaster area is further expanded.
In addition to extending certain tax filing and tax payment deadlines, the relief includes completion of many time-sensitive, tax-related acts described in IRS Revenue Procedure 2018-58 and Treasury Regulation 301.7508A-1(c)(1), which include filing Form 5500 for retirement plans, completing rollovers, and making retirement plan loan payments, etc.
Affected taxpayers with a covered deadline on or after February 11, 2021, and on or before June 15, 2021, will have until June 15, 2021 to complete the act(s). "Affected taxpayer" automatically includes anyone who resides or has a business located within the designated disaster area. Those who reside or have a business located outside the identified disaster area, but have been affected by the disaster, may contact the IRS at 866-562-5227 to request the relief.
