Was your business affected by the winter storm in texas?
Victims of this month’s winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and make tax payments.
Affected individuals and businesses will have until June 15, 2021, to file returns and pay any taxes that were originally due during this period. This includes 2020 individual and business returns normally due on April 15, as well as various 2020 business returns due on March 15.
Among other things, this also means that affected taxpayers will have until June 15 to make 2020 IRA contributions.
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.
More details from the IRS: HERE
Check out our last blog about the Texas Winter Storm Disaster Assistance to learn more about the different types of loans available, qualification requirements, loan limits, and more.