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.Contact Us
For more information check out HM&M’s COVID-19 Resources page.HM&M COVID-19 Resources
On December 29th, 2022, President Biden signed the SECURE Act 2.0 into law, as part of the Consolidated ...
A complex trust or estate may make an election under Internal Revenue Code Section 663(b) to treat all ...
We often receive questions from clients about their 401(k) plans and recently had a client ask two thought ...
Last month, Senior Manager, Pearl Balsara was invited to speak at the 2023 FPA DFW Annual Conference in ...
We are pleased to announce the winners of the 2022 HM&M Excellence Awards. Ronna Beemer, Keith Phillips, and ...
Huselton, Morgan and Maultsby is composed of a spectacular team of individuals. During our annual What’s Happening Meeting, ...