IRS Deadline Relief Available to Victims of Federally-Declared Natural Disasters

Business and individual taxpayers who have been affected by natural disasters in the first quarter of 2021 may be able to take advantage of the IRS tax relief extended deadlines to file certain tax returns.  This deadline relief also applies to the requirement that sponsors of ERISA retirement health and welfare plans must file Form 5500 by the end of the seventh month after the close of the plan year.

Below is a summary of available taxpayer relief in affected areas:

Details and updates can be found on the IRS Tax Relief website.

Employers in affected areas who are unable to file their employee health and welfare benefits Forms 5500 (with original or extended 5500 deadlines falling between the above dates) and wish to use the special extension should reach out to their Hays-Brown & Brown service team members. They can provide assistance to you to ensure your Form 5500 is correctly prepared to avoid late filing penalties.  If you have questions regarding tax filing deadlines, you should consult your tax advisor.

This document is provided for general information purposes only and should not be considered legal or tax advice or legal or tax opinion on any specific facts or circumstances. Readers are urged to consult their legal counsel and tax advisor concerning any legal or tax questions that may arise.

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