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June 10, 2021

IRS finalizes regulations on mandatory 60-day postponement of certain tax-related deadlines due to federally declared disaster

The IRS has issued final regulations (TD 9950) addressing the mandatory 60-day extension, under new IRC Section 7508A(d), of certain time-sensitive tax deadlines due to a presidentially declared disaster area, military action, or terrorism. The regulations also clarify the definition of a federally declared disaster area under IRC Section 165. The applicability date for the IRC Section 7508A(d) regulations is December 21, 2019; the IRC Section 165 regulations apply as of June 11, 2021.