IRS Extends April 18 Tax Deadline To May 15 For California - Forbes The IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. The state already is expecting a major budget shortfall this year in 2023, so it is likely that the tax revenue that was expected to come in normally is not going to come in based on that schedule, Varshney said. Watch on The tax filing deadline is next week, but for some who have been affected by the recent severe storms in. Contain the reason why the filing or payment could not be filed on time. IRS tax alert: The 2023 tax deadline is extended for most California That means that some Californians have about four more months to file their federal. Still need to file? The EDD may extend the time for filing a payroll tax report or paying any payroll taxes without penalty for up to 60 days if good cause exists. Do not. IRS grants filing extensions to California storm victims Be sure to include the FEMA disaster declaration number, FEMA-3592-EM, on any return. One big reason you might consider filing and paying your taxes by April 18: Doing so will make it possible to receive your refund earlier, if youre eligible for one, says Spivey. Eligible taxpayers have until Oct. 16 to make 2022 contributions to their IRAs and health savings accounts. Affected Taxpayers include individuals who live and businesses whose principal place of business is located in the Covered Disaster Area, regardless of where the relinquished or replacement property is located. Therefore, taxpayers do not need to contact the agency to get this relief. The new deadline of. One day I may cover the current COVID-19 situation and the next day my story may be about a San Diego landmark. Those who qualify will now have an extended General Postponement date of October 16, 2023 to find a replacement property and close on their 1031 exchange transaction. Curating the best of The Standards top-notch reporting, every Saturday. These include: The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. That said, if you do get a late filing or a late payment notice from the IRS before Oct. 16 and you live in an area thats receiving the automatic extension, dont panic. The IRS Extended the Tax Deadline in 7 States. Is Yours One of Them Know Your City! Keep up with all the latest news, arts and culture, and TV highlights from KPBS. Find out how to get an extension of time to file your Income Tax return. This extension is intended as a form of tax relief for the majority of Californians, in light of those severe weather events. The new deadline is now Oct. 16, 2023, to align with the IRS extension for federal returns. For the disaster proclamation beginning January 8, 2023, the postponement includes Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, 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, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba counties. Weve published clear, practical explainers and guides about COVID, how to cope with intense winter weather and how to exercise your right to protest safely. Get started now. After each serious storm event, the IRS listed the California counties that were affected each time. the deadline to file and pay both your federal and state taxes has been extended to Oct. 16, Why you might choose to file your taxes as soon as possible anyway, regardless of the extension, the severe winter storms that hit California from late December to early January, this years winter storms have caused nearly $1 billion in damage, IRS announces tax relief for victims of severe winter storms, flooding, and mudslides in California (Jan. 10), IRS announces tax relief for victims of severe winter storms, flooding, landslides, and mudslides in California (Jan. 24), IRS provides tax relief for victims of severe winter storms, flooding, landslides and mudslides in California (March 17), Emergency tax relief: Tax relief for disasters, his March 2 statement that California would be extending the filing and payment deadline, if you do get a late filing or a late payment notice from the IRS before Oct. 16, The IRS announced the Oct. 16 extension for filing and paying federal taxes, the IRS had initially only extended the deadline to May 15, a similar extension for filing and paying state taxes, the IRS added more California counties to the list of affected areas. IRS 'Balance Due' Notices Sent To CA Residents Despite Extension - Patch "The Oct. 16 deadline also applies to the estimated tax payment for the fourth quarter of 2022, originally due on Jan. 17, 2023.". Peak 1031 Exchange (peakexchange.com) is a leading national provider of tax-deferred 1031 exchange services, specializing in all like-kind transactions including simultaneous, delayed, reverse, improvement, and personal Property exchanges. An official website of the United States Government. Sacramento - The IRS announced tax relief for Californians affected by winter storms. The new rules were delayed for the 2022 tax year but will resume unless Congress or the IRS make further modifications. (And when youre done, why not send this to someone else, so they know about the extension, too?). This means residents have about six more months to. Please note that if you operate a disregarded entity such as a single-member LLC or are a married couple under California law, and operated a multi-member LLC and you and your spouse are the only two members, you will owe the $800 Annual California Franchise tax fee. The IRS will waive the usual fees and requests for copies of previously filed tax returns for affected taxpayers. Currently tax relief is available to any area designated by FEMA. These include: Individual income tax returns and various business returns normally due on March 15 and April 18, 2023 will now have until, to file their 2022 return and pay any tax due. bitea dose of arts, culture and more. California state individual income tax returns are due by April 15 (for calendar year taxpayers). to file returns and pay any taxes that were originally due during this period. For more information, taxpayers may review Revenue Procedure 2018-58, Section 17, and the Notices at https://www.irs.gov/newsroom/tax-relief-in-disaster-situations. The current list of eligible localities is available on the disaster relief page on IRS.gov. Tell us, and you could see your question answered online or on social media. If a county was named in any of these three IRS announcements as every one of the nine counties in the Bay Area was it remains eligible for the federal tax extension: As for state taxes, here is the information from the California Franchise Tax Board on the state tax deadline extension for those California counties named in those IRS announcements, including the Bay Area: Gov. File their returns by the extended due date of the return. Because a city this offbeat deserves a newsletter with some What if I owe money? Gavin Newsom signed the states new budget into law on Monday, including an extension to the California Film and TV Tax Credit Program that lasts through 2030. Just call the telephone number thats on the notice, and the IRS says you can get the penalty wiped. Following the disaster declaration issued by the Federal Emergency Management Agency (FEMA), individuals and households affected by severe winter storms, flooding, and mudslides that reside or have a business in Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, 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, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba counties qualify for tax relief. 301.7508A-1(d)(2) and are entitled to the relief detailed below. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Everybody's Doing It With Miss Lolly Podcast, COMIC-CON 2023: See the latest news, photos, panel recommendations and more. You may also be planning to apply for other credits, financial aid programs or benefits, which still require you to have filed your taxes by the original Tax Day of April 18, even if you qualify for the deadline extension. Katharina has worked as a senior tax accountant, operations manager, and controller. This includes: Individuals whose tax returns and payments are due on April 18, 2023. Use California Form FTB 3519 (Payment for Automatic Extension for Individuals) to submit your extension payment by check. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Her passions surround financial literary and tax law interpretation. Sign up for our daily newsletter. IRS Extends Tax Deadlines To Oct. 16 For Taxpayers In California to make 2022 contributions to their IRAs and health savings accounts. The usual April 15 deadline was pushed until May 15. Under section 7508A, the IRS gives affected taxpayers until Oct. 16, 2023, to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; annual information returns of tax-exempt organizations; and employment and certain excise tax returns), that have either an original or extended due date occurring on or after March 9, 2023, and before Oct. 16, 2023, are granted additional time to file through Oct. 16, 2023. The Federal Emergency Management Agency (FEMA) declared the recent events as a disaster and the, IRS announced that victims of these California storms. (MoMo Productions/Getty Images) Updated 2:45 p.m. Thursday Yes, for most Americans, Tax Day this year falls on Tuesday, April 18. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated. 10 Brilliant Ways To Reduce Your Taxes in Retirement, 9 Effective Tips and Tricks To Help You Save Money, 12 Types of Passive Income That Aren't Taxable, 10 Retirement Tax Surprises To Prepare For, Is Your Tax Refund Still Sitting in the Bank? TheseWhere to File addresses are to be used onlyby taxpayers and tax professionals filing individual federal tax returnsin California during Calendar Year 2023. TurboTax is Ready To Help Filers For Tax Year 2022, Hobby Meets Hustle: Filing Small Business Taxes, Katharina Reekmans is an Enrolled Agent and a contributor to the TurboTax Blog team. to California taxpayers for any confusion caused by balance due mailings, Notice CP14, sent out as a legal requirement. These past few weeks severe winter storms, flooding, and mudslides have ravaged parts of California leaving many without power and in a state of disaster. Tell us: What else do you need information about right now? Taxpayers who do not meet the definition of Affected Taxpayers do not qualify for Section 6 General Postponement relief. Taxpayers do not need to contact the IRS to get this relief. "The additional relief postpones until Oct. 16, various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns,"the agency said in a release. This means that individuals and households that reside or have a business in Alpine, Amador, Butte, Calaveras, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Los Angeles, Madera, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Mateo, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Sierra, Sonoma, Stanislaus, Trinity, Tulare, Tuolumne and Yuba, Taxpayers in certain storm impacted localities designated by FEMA will automatically receive the same filing and payment relief. This includes: Individuals whose tax returns and payments are due on April 18, 2023. Over the past years, our Film and Television Tax Credit Program has helped create thousands of good paying jobs, relocated productions to California, and brought billions in new investment to our state. The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief. If you were impacted by these storms we want you to know TurboTax is here for you, and we want to keep you up to date with important tax relief information that may help you in this time of need. Gavin Newsom also explicitly named the nine Bay Area counties in his March 2 statement that California would be extending the filing and payment deadline for state taxes as well as federal taxes, aligning with the IRS.. The IRS has given victims of severe winter storms, flooding, landslides and mudslides in California that began March 9, 2023, until Oct. 16, 2023, to file various individual and business tax returns and make tax payments. If October 15 falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day. Can I Get an Extension? - California Tax Service Center California Tax Deadline Extension: What You Need to Know Opinions expressed by Forbes Contributors are their own. The IRS is granting extensions to California storm victims until May 15, 2023, for the following filing and payment deadlines that were normally scheduled for on or after January 8, 2023: Individual income tax returns; Business return filings normally due between March 15 and April 18, 2023; It's a Democratic proposal . Most Californians have received an automatic extension from the IRS to file and pay their taxes. A May 15 tax deadline has since been extended to Oct. 16, 2023. Peak 1031 Exchange does not provide legal or tax advice. The IRS will grant a reasonable extension of time for filing a return. Also Read: California Passes Refundable Film and TV Tax Credit Extension, Production Safety Pilot Program. The pilot program will be used as a basis for similar ones in New York and Georgia developed by the Directors Guild of America as part of its recently ratified labor contract. I love covering stories about the place I am lucky enough to call home, San Diego. Tax day is April 18 this year, but now disaster-area taxpayers in most of California and parts of Alabama and Georgia have until Oct. 16 to file various federal individual and business tax. California individuals and businesses impacted by the 2022-23 winter storms qualify for an extension until Oct. 16, 2023, to file and pay taxes. The IRS announced tax relief for Californians affected by these winter storms. This includes: Individuals whose tax returns and payments are due on April 18, 2023. There was an unknown error. Because the extension is granted automatically to everyone in the affected areas, theres no application to fill out: The IRS and the state of California know where you live or own a business, so they will use that information to extend this relief to you. IRS and State Move Spring Tax Deadline to Oct. 16 for Most Californians Reg. "This is an unprecedented opportunity for eligible taxpayers who are either in the middle of an exchange, or are seeking to open an exchange in the near future," says Kevin M. Levine, Partner and Executive Vice President at Peak 1031 Exchange (peakexchange.com). Affected Taxpayers have two options: General Postponement under Section 6 of Rev. So tell us: What do you need to know more about? In short, its because of the severe winter storms that hit California from late December to early January. 301.7508A-1(d)(1), and include individuals who live, and businesses (including tax-exempt organizations) whose principal place of business is located, in the covered disaster area. By signing up you agree to receive content from us. Katharina has years of experience in tax preparation and representation before the IRS. Reg. , . California has announced that taxpayers and business owners affected by the recent winter storms in California qualify for an extension to file and pay taxes until October 16, 2023. from 8 AM - 9 PM ET. Future of Child Care & Solutions to Move Forward | A KPBS Parents Event, Daniel Emmet & Pia Toscano: Simply The Best, San Diego journalists brace for impact on community after sale of news institution, San Diego now has the 3rd highest rent prices in the nation, Non-profit turning shipping containers into homes for homeless San Diegans, Crowd gathers at downtown SD courthouse in protest of UCSD student worker arrests, Why can't we stop homelessness? 2018-58, which postpones any 45-day or 180-day deadline falling on or after the Disaster Date to the General Postponement date, or Section 17 Alternative, available to Affected Taxpayers and other taxpayers who have difficulty meeting the exchange deadlines. The new tax deadline. Because of weather-related disasters across the state earlier this year, the Internal Revenue Service last month granted a one-month tax extension to residents of almost every California county. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should call the number on the notice to have the penalty abated. California taxpayers qualify for the extension if their county is on this list. PO Box 942867 Yes you dont need to have been directly affected by the winter storms to get this extension on your federal and state taxes, even though the storms are the reason for the extension. Are in good-standing with both Franchise Tax Board and the California Secretary of State on the original due date of the return. As a result, affected individuals and businesses will have until October 16, 2023 to file returns and pay any taxes that were originally due during this period. The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. of SF politics and culture. The IRS also gives affected taxpayers until Oct. 16, 2023, to perform other time-sensitive actions described in Treas. IRS: California storm victims qualify for tax relief; April 18 deadline The IRS also has confirmed that if you live in one of the affected areas, you have until Oct. 16 to make 2022 contributions to your IRAs and health savings accounts. You must have a CDTFA Online Services Username or User ID and Password. Storms, wildfires and flooding damage have pushed back the tax filing deadlines for most Californians. Be signed by the employer or authorized agent. Listen 1:01 How do I know if I qualify for the 2022 tax extension? But if you live or own a business in the Bay Area, the deadline to file and pay both your federal and state taxes has been extended to Oct. 16. Affected taxpayers claiming the disaster loss on their return should put the Disaster Designation, "California, severe winter storms, flooding, landslides and mudslides", in bold letters at the top of the form. P O Box 802501 Use Form FTB 3522, LLC Tax Voucher when making your payment. Spivey says that not only are many people in the Bay Area unaware that the deadline to both file and pay their federal and state taxes has been extended, but also those who do know are unaware its automatic and requires no action or application to receive it. Extensions | Internal Revenue Service The decision came 'after many months of careful evaluation,' a spokesperson for Anchor Brewing said Wednesday. The deadline has been extended to Oct. 16, which also includes state taxes. For your reassurance, here are the three IRS announcements on the federal tax deadline extension that includes the Bay Area. Also Read: SAG-AFTRA Lays Out Strike Rules: No Shoots, No Press, No Social Media Promos, California Film and TV Tax Credit Program, California Passes Refundable Film and TV Tax Credit Extension, Production Safety Pilot Program, SAG-AFTRA Lays Out Strike Rules: No Shoots, No Press, No Social Media Promos. officialpayments.com, use code 1555. Individuals can make an extension or estimated tax payment using tax preparation software. On March 2, Newsoms office announced that California would follow the IRS lead and offer a similar extension for filing and paying state taxes for residents and business owners in those same counties. Extension of Time to File for Businesses - California Tax Service Center Where can I go to get free tax preparation? The IRS will grant a reasonable extension of time for filing a return. PO Box 942867. For more information, visit the State of California Franchise Tax Board website: www.ftb.ca.gov, Form FTB 3519 (Payment for Automatic Extension for Individuals). The first extension was to May 31, and the most recent IRS tax deadline extension is to Oct. 16, 2023. You wont need to provide any evidence at the time of filing that you were affected by these storms. Form 4506, Request for Copy of Tax Return, Form 4506-T, Request for Transcript of Tax Return, as appropriate. TaxExtension.com is an authorized IRS eFile provider and files both IRS Form 4868 and IRS Form 7004 electronically. Reg. For more information, visit the State of California Franchise Tax Board website: www.ftb.ca.gov. Can I Get an Extension? Taxpayers affected by these storms qualify for an extension to October 16, 2023 to file individual and business tax returns and make certain tax payments. The IRS announced tax relief for Californians affected by these winter storms. You must submit a request for extension no later than one month after the due date of your return or prepayment form and payment. In a statement emailed late Wednesday afternoon, the IRS said it "reassures California taxpayers that they continue to have an automatic extension until later this year to file and pay their. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). View our emergency tax relief page for more information. Still need to file your taxes in California? What to know about So I do expect delays.. to file various individual and business tax returns and make certain tax payments.