Texas Disaster Declaration (Tropical Storm Imelda): IRA and HSA Deadlines Extended for Some | Wolters Kluwer
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  • Texas Disaster Declaration (Tropical Storm Imelda): IRA and HSA Deadlines Extended for Some

    Mike Schiller Onward

    by Mike Schiller, Manager, Specialized Consulting, Tax Advantaged Accounts, Wolters Kluwer

    Published October 08, 2019




    Due to the destruction caused by Tropical Storm Imelda that took place from September 17-23 in Texas, the President has declared that parts of Texas are a major disaster. As a result, taxpayers that reside in or have a business located in an affected area may qualify for tax relief.

    The tax relief postpones until January 31, 2020 certain deadlines falling on or after September 17, 2019 and before January 31, 2020. Deadlines that apply to individual retirement accounts (IRAs), Health Saving Accounts (HSAs), Coverdell Education Savings Accounts (CESAs), and other tax advantaged accounts that fall within this time period are extended.

    Please note that unless an act is specifically listed in Revenue Procedure 2018-58, the postponement of time to file and pay does not apply to information returns in the W-2, 1094, 1095, 1097, 1098, or 1099 series; to Forms 1042-S, 3921, 3922 or 8027; or to employment and excise tax deposits. For this reason, the deadline for custodians and trustees to file IRS Forms 1099-R (IRAs), 1099-SA (HSAs), and 1099-Q (CESAs) that report distributions is not extended.

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