IRS Extends Tax Filing and Payment Deadlines for Oregon Wildfire Victims

The IRS has issued news release IR-2020-215, announcing a tax filing and payment deadline extension for certain persons and businesses affected by recent wildfires and straight-line winds that began September 7, 2020, in the state of Oregon.

The relief postpones tax filing and payment deadlines that occurred starting on September 7, 2020. As a result, affected individuals and businesses will have until January 15, 2021, to file returns and make certain payments that were originally due during this period.

The news release specifically notes that affected individuals or businesses with an extended tax return filing deadline of October 15, 2020, will have until January 15, 2021, to complete those tax filings. Certain actions that are tied to a tax filing deadline, like establishing a simplified employee pension (SEP) plan, or making certain employer contributions to a retirement plan, would similarly be extended. However, no reference is made in the news release to the Treasury regulation that permits postponement of numerous other time-sensitive tax-related acts, such as the completion of rollovers, filing Form 5500, etc.

At this time, the areas of the State of Oregon identified as eligible for the relief include the counties of Clackamas, Douglas, Jackson, Klamath, Lane, Lincoln, Linn, and Marion. The IRS notes that “taxpayers in localities added later to the disaster area will automatically receive the same filing and payment relief.”