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IRS T.D.: Mandatory 60-Day Postponement Due to Federal Declared Disasters (IRC §7508A)

June 10, 2021, 5:00 AM

Mandatory 60-day postponement of certain time-sensitive tax-related deadlines under tax code Section 7508A(d) by reason of a federally declared disaster covered in final rules issued June 10. The final regulations clarify the definition of “federally declared disaster.” The IRS determined the necessity of issuing regulations because the statute was unclear as to what time-sensitive acts are to be postponed and how the mandatory 60-day postponement period is to be calculated when the declaration specified in Section 7508A(d) does not contain an incident date. The final regulations provide that the IRS’s determination under Section 7508A(a) of the acts ...

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