Texas Businesses Receive Tax Extension

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KEYWORDS News Taxes Texas

Feb. 26, 2021—Businesses and individuals in Texas will have an extra two months to file its taxes following the damage caused by recent winter storms and power outages, Fox Business reported. 

The announcement was made by the Internal Revenue Service on Monday, moving the deadline from April 15 to June 15. The relief applies to people who live in Texas—more than 8 percent of Americans—and to people who have businesses there.

As of now, extended deadlines are only applicable to Texas businesses. However, there is momentum for a potential national extension as the IRS opened tax filing this year later than usual to accommodate changes in tax law, the report said. Thus far, no changes have been implemented. 

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