Texans’ tax deadline extended.

Deadline extended to June 15

There’s at least one positive development from last week’s winter storm that left much of San Antonio and Texas without electricity and heat.

The Internal Revenue Service announced it’s giving Texas residents and businesses extra time to file their tax returns and make tax payments.

The deadline now is June 15.

The new deadline covers 2020 individual tax returns originally due April 15 and business tax returns due on March 15 or April 15.

Estimated income tax payments due after Feb. 11 but before June 15 are postponed until June 15. Those payments will not be subject to penalties for failure to pay estimated installments as long as the payments are paid by June 15, the IRS said.

Taxpayers also have until June 15 to make 2020 contributions to their individual retirement account.

The IRS’S announcement covers all 254 Texas counties.

The federal agency is permitted to postpone taxfiling and tax-payment deadlines for those who live in or have a business in an area covered by a disaster declaration issued by the Federal Emergency Management Agency.

On Saturday, President Joe Biden declared a major disaster for 77 Texas counties — including Bexar and surrounding counties Comal, Guadalupe, Kendall and Wilson.

An additional 31 counties were added to the disaster declaration Monday, including Medina, Gov. Greg Abbott said. His initially requested that the entire state be included in the declaration.

Taxpayers in a federally declared disaster area have the option of claiming storm-related casualty losses on either their 2020 or 2021 federal income tax return.

Personal property losses not covered by insurance or other reimbursement can be deducted, the IRS said. Individuals claiming a loss on a 2020 return should file Form 4684, Casualties and Thefts.

The IRS has advised tax- payers making a claim to put “Texas - Severe Winter Storms” in bold letters at the top of the form and include the disaster declaration number, 4586, on any return.

The IRS said it automatically identifies taxpayers located in covered disaster areas and applies filing and payment relief. Taxpayers don’t have to contact the IRS to get the relief.