Volunteers load cases of water into the back of a truck during a bulk water distribution at Delmar Stadium in Houston on Feb. 19.
Justin Sullivan | Getty Images
Some taxpayers have more time to file their 2020 tax returns.
For individuals and businesses across Texas, much of which have been declared a disaster area, tax returns and payments will be due on June 15, rather than April 15, which is normally the case for everyone else, the IRS said Monday.
Last year, the IRS moved the deadline for filing (and paying) taxes to July 15 for all taxpayers. The agency recently said it had no plans to take the same action this year.
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In any area hit by winter storms and classified as a disaster by the Federal Emergency Management Agency, taxpayers would get the same extension for those in Texas too.
The extension also means affected individuals will have until June 15 to contribute to individual retirement accounts in 2020, the IRS said. Corporate returns, which would normally be due on March 15th, will be postponed, as will the quarterly estimated tax payments, which are normally due on April 15th.
If you are one of those taxpayers ahead of the standard deadline and need more time, you can apply to the IRS for an extension. Note that this doesn’t mean any delay in paying your debt without incurring potential penalties.
The tax return was opened on February 12th, a few weeks later than usual. The IRS expects 150 million returns this year
(Correction: an earlier version of this story said the deadline was July 15th).