On April 29, 2021, the IRS issued News Release KY-2021-01 and News Release AL-2021-01 to provide “affected taxpayers” who were victims of certain disasters in Kentucky and Alabama relief with postponed deadlines for the completion of certain time-sensitive acts, many of which are related to IRAs, employer plans, HSAs, or Coverdell ESAs. The relief is similar to the relief that was provided earlier this year to “affected taxpayers” who were victims of the winter storms in Texas, Oklahoma, and Louisiana.
Relief Under News Relief KY-2021-01
Under the relief of News Relief KY-2021-01, time-sensitive acts referenced in the news relief with a due date to be performed on or after February 27, 2021, and before June 30, 2021, are postponed until June 30, 2021. This includes IRA and HSA contributions for tax year 2020.
Relief Under News Relief AL-2021-01
Under the relief of News Relief AL-2021-01, time-sensitive acts referenced in the news relief with a due date to be performed on or after March 25, 2021, and before August 2, 2021, are postponed until August 2, 2021. This includes IRA and HSA contributions for tax year 2020.