The U.S. Treasury Department and IRS have released for publication in the Federal Register final regulations (T.D. 9950) relating to a mandatory 60-day postponement of certain time-sensitive tax-related deadlines by reason of a federally declared disaster. The final regulations provide guidance for individuals who reside in, were injured or killed in a disaster area; businesses that have a principal place of business in a disaster area; relief workers who provide assistance in a disaster area; or any taxpayer whose tax records necessary to meet a tax deadline are located in a disaster area.
See full Treasury Department and IRS: Mandatory 60-Day Postponement of Certain Tax-Related Deadlines by Reason of a Federally Declared Disaster (June 11, 2021), click here.
For more information on Federal Register: Mandatory 60-Day Postponement of Certain Tax-Related Deadlines by Reason of a Federally Declared Disaster, click here.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.