Both the Internal Revenue Service (IRS) and the state of California Franchise Tax Board have given taxpayers more time to file their taxes after the state has been hit with a period of severe weather over this past winter season. While April 18th is the tax filing deadline for most Americans, the IRS and the state of California are offering California residents in designated areas extra time to file and even pay any taxes owed for the tax year 2022. This includes delaying quarterly payments being prepaid for the tax year 2023.
What is the new tax deadline for California storm victims?
On February 24th, the IRS announced that California storm victims now have until October 16th, to file various federal individual and business tax returns and make tax payments. The IRS is offering the extension to people in areas designated by the Federal Emergency Management Agency (FEMA). Some of the most populous areas of the state, including, but not limited to, Los Angeles, San Diego, Orange, Riverside, Sacramento and San Francisco counties are included in the filing extension.
Think you might qualify for this special extension? Scroll to the end of this article to see a full list of California counties included in this special extension.
According to the IRS, the tax relief postpones various tax filing and payment deadlines that occurred starting January 8th, 2023. Those affected have until October 16th to file returns and pay any taxes that were originally due during this period. This includes 2022 individual or joint income tax returns due on April 18th, as well as various 2022 business returns normally due on March 15th and April 18th and also quarterly estimated tax payments due January 17th, March 15th, April 18th, June 15th, and September 15th. Eligible taxpayers will also have until October 16th to make 2022 contributions to their IRAs and health savings accounts.
What actions do I need to take to receive this special tax extension in 2023?
According to the IRS, no special requests for an extension or any other action is needed for this special circumstance. If you are one of the California residents residing in the affected areas you have an automatic delayed tax due date of October 16th.
If you are not in one of the Federal Emergency Management Agency (FEMA) designated effected areas you can file Form 4868 to receive an automatic 6-month extension of time to file your tax return. An extension of time to file is not an extension of time to pay. Keep in mind you may be subject to a late payment penalty on any tax not paid by the original due date of your return.
For those located in the Federal Emergency Management Agency (FEMA) designated affected areas will not incur any late payment penalties for taxes not paid between the original due date of your tax payment and the special extension date of October 16th.
When should California taxpayers file their taxes in 2023?
The IRS has begun accepting returns for the 2023 tax season. Even if you are in an area receiving this special extension doesn’t mean you should delay your tax filing if you are prepared to file your taxes earlier. The sooner you file, the less likely you are to encounter tax fraud, the sooner you are to receive your tax refund, if you are owed one, and the sooner you are to establish any tax planning strategies that can be implemented in the year 2023.
For live updates and changes visit the below links to the Internal Revenue Service (IRS), Federal Emergency Management Agency (FEMA) & the California Franchise Tax Board websites:
https://www.irs.gov/newsroom/tax-relief-in-disaster-situations
https://www.fema.gov/disaster/4683/designated-areas
https://www.ftb.ca.gov/about-ftb/newsroom/news-releases/index.html
Below is a current list of California counties that are eligible for both state and federal extended tax deadlines, but do check the above website links for any additional counties that may be included as well.
Alameda
Alpine
Amador
Butte
Calaveras
Colusa
Contra Costa
Del Norte
El Dorado
Fresno
Glenn
Humboldt
Inyo
Kings
Lake
Los Angeles
Madera
Marin
Mariposa
Mendocino
Merced
Mono
Monterey
Napa
Nevada
Orange
Placer
Riverside
Sacramento
San Benito
San Bernardino
San Diego
San Francisco
San Joaquin
San Luis Obispo
San Mateo
Santa Barbara
Santa Clara
Santa Cruz
Siskiyou
Solano
Sonoma
Stanislaus
Sutter
Tehama
Trinity
Tulare
Tuolumne
Ventura
Yolo
Yuba