Monthly News & Updates
February 24, 2021
IRS Extends Upcoming Deadlines
Victims of this month's winter storm in Texas have more time to file their federal taxes. The new deadline is June 15, 2021, to file individual, business tax returns as well as any tax payments that are due.

Declaration made by the Federal Emergency Management Agency (FEMA)

Due to this month's winter storm, FEMA has declared the state of Texas as a disaster area. The IRS is providing relief to the entire state. Taxpayers in other states impacted by these winter storms that receive similar FEMA disaster declarations will automatically receive the same filing and payment relief. Please refer to the disaster relief page on
The tax relief also extends any business returns due March 15 to June 15, 2021. Among other things affected, taxpayers will have until Jun 15 to make 2020 IRA contributions.

Quarterly estimated income tax payments, quarterly payroll and excise tax returns normally due on April 15 are also extended to June 15. Tax-exempt organizations, operating on a calendar basis, that have a 2020 return due on May 17 are also included in this extension period.

In addition, penalties on payroll and excise tax deposits due on or after Feb. 11 and before Feb. 26 will be abated as long as the deposits are made by Feb. 26.

The IRS will automatically provide filing and penalty relief to taxpayers with an address on file that is located in the disaster area. If an affected taxpayer does receive a penalty notice from the IRS that has an original or extended filing payment or deposit due date falling within the extended period, the taxpayer should then call the number on the notice to have the penalty abated.
Individuals and businesses in a federally declared disaster area who suffered uninsured or unreimbursed disaster-related losses can choose to claim them on either the return for the year the loss occurred (in this instance, the 2021 return normally filed next year), or the return for the prior year. This means that taxpayers can, if they choose, claim these losses on the 2020 return they are filling out this tax season. Be sure to write the FEMA declaration number – 4586 − on any return claiming a loss. See Publication 547 for details.
If you have any questions regarding these updates feel free to contact our office. We are more than happy to help!
One Sugar Creek Center Blvd., Suite 650
Sugar Land, TX 77478
(281) 491-8866 Fax (291) 491-8998