Recent flooding rains in the Houston area coincided with the annual income tax filing deadline this year on April 18th. This is deja vu all over again as it has not yet been a year since our last floods, which occurred on Memorial Day 2015. As a result of the flooding, the area has once again been declared a disaster area, which qualifies area taxpayers for relief from filing their returns and from paying their taxes.
The relief applies to taxpayers in Fayette, Grimes, Harris, and Parker counties. The extended due date for filing and paying income taxes is September 1, 2016. In addition, for individuals, quarterly estimated tax payments which were otherwise due on April 18 or June 15 can be postponed until September 1.
Horizon Wealth Advisors is a Houston based fee-only wealth management firm. Horizon is a fiduciary advisor. We specialize in helping successful individuals and families understand, organize, and manage their often complex financial situations. Horizon offers integrated financial planning and investment management services.