The Internal Revenue Service announced this week that it is offering Texans affected by last week’s major winter storms some tax relief.
Residents affected by the storms — which caused many burst pipes and major damage to local homes and businesses — now have until June 15 to file various individual and business tax returns and make tax payments, according to an IRS news release.
The recent disaster declaration by FEMA permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area.
Affected taxpayers in a federally declared disaster area have the option of claiming disaster-related casualty losses on their federal income tax return for either the year in which the event occurred, or the prior year. See Publication 547 for details.
The IRS will also waive the usual fees and requests for copies of previously filed tax returns for affected taxpayers.
Click here for more information.
