IRS provides tax relief for taxpayers affected by February 2021 storms in West Virginia
The FEMA declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines.
FEMA declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines
Taxpayers in West Virginia affected by February 2021 storms now have until June 30, 2021, to file various individual and business tax returns and make tax payments.
An IRS release—WV-2021-01 (May 27, 2021)—explains that after a disaster declaration by the Federal Emergency Management Agency (FEMA) for the storms that began February 27, 2021, “affected taxpayers” in Boone, Cabell, Kanawha, Lincoln, Logan, Mingo, and Wayne counties may be eligible for tax relief. This relief applies for individual taxpayers affected by the storms if residing or having a business in these counties.
The FEMA declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area.
- Certain deadlines falling on or after February 27, 2021, and before June 30, 2021, are postponed through June 30, 2021 (including the deadlines for filing individual income tax returns and making payments of tax).
- Taxpayers have until June 30, 2021, to make 2020 IRA contributions.
- The June 30, 2021 deadline applies to the first and second quarter estimated tax payments and to quarterly payroll and excise tax returns normally due on April 30, 2021.
- The postponed deadline applies to tax-exempt organizations, operating on a calendar-year basis, that have a 2020 return that was due on May 17, 2021.
- Penalties on deposits due on or after February 27, 2021, and before March 15, 2021, will be abated as long as the tax deposits were made by March 15, 2021.
If an affected taxpayer receives a late-filing or late-payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer is directed to call the telephone number on the notice to have the IRS abate the penalty.
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