The IRS has extended the deadline for paying taxes for residents of some states
The IRS is extending tax deadline for Texas due to winter storm, other states may also receive tax relief. USA Today.
The IRS is extending the tax season for Texas residents due to winter storms.
Instead of April 15, the deadline for paying taxes for individuals and businesses in the state of Texas is June 15, as the IRS said in a press release dated Monday, February 22.
Taxpayers in other states affected by winter storms where a natural disaster was declared by the Federal Emergency Management Agency (FEMA) will automatically receive the same tax extension, the IRS said.
The agency began accepting and processing tax returns for 2020 on February 12, which is more than two weeks later than last year. It took longer for the IRS to program its systems with the new regulations signed on December 27th.
The federal agency was busy sending out a second round of economic damage payments. The IRS said last week that all coronavirus relief payments have been distributed, but some checks may still be mailed.
The tax credits announced on Monday, February 22nd, are postponing the filing and payment deadlines that began on February 11th. Various 2020 business declarations due on March 15th must be filed by June 15th.
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Affected taxpayers will be required to pay their 15 IRA contributions by June 2020th, and the deadline applies to quarterly income tax payments and quarterly wage and excise tax returns, usually due on April 30th. This also applies to tax-exempt organizations operating on a calendar basis. For them, the deadline for payment in 2020 is May 17th.
Last year, amid the coronavirus pandemic, the IRS pushed the tax deadline to July 15.
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