Extraordinary Events Mean New Filing Deadlines
2020 can largely be described with two words: dumpster fire. The term has almost become a phrase that we use in our everyday lives due to the events of the past ten months. For some taxpayers, the events of 2020 mean that the due dates for their tax filings have been extended. The situations are far from ideal, but some taxpayers will gladly accept the additional time.
Members of the military serving in combat zones can get an extra 180 days from their last day in those dangerous areas to file their tax returns. People who've been through a major disaster also usually are provided extra time to file. That's the case for both individuals and business owners in some of these states.
Due to the Iowa derecho, some taxpayers have had the due date for their returns extended to December 15. The same due date has been extended to taxpayers affected by the California wildfires. For people in Louisiana impacted by Hurricane Laura, their return due date has been extended to December 31. Finally, taxpayers in Oregon and Alabama have had their return due date extended to January 15, 2021 due to the wildfires and Hurricane Sally, respectively.
Taxpayers affected by natural disasters can find more in IRS Publication 547. The professionals at The Center for Financial, Legal, and Tax Planning are more than knowledgeable with regards to the tax code and other ways to ensure compliance with IRS guidelines. Please contact us at (618) 997-3436 with any questions.
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