Credit: G. Chutka/Getty Images
According to a official release From the IRS, victims of the storm now have until May 15, 2023 to file various individual and business federal tax returns and make tax payments.
The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). The following counties include Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Wood, Marin, Butterfly, Mendocino, Merced, Monkey, Monterey, Napa, Orange, Pleasure, Riverside, Sacramento , San Benito, San Bernardo, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Estanislao, Sutter, Tehama, Tulare, Ventura, Yolo and Yuba.
For the most up-to-date listings, visit the Disaster Tax Relief Web page.
The IRS noted that the temporary filing postponement includes 2022 individual income tax returns that are due April 18, as well as several 2022 business returns that are normally due March 15 and April 18.
Additionally, farmers who choose to forgo making estimated tax payments and typically file their returns by March 1 will now also have until May 15, 2023. The May 15, 2023 deadline also applies to quarterly estimated tax payments, which are normally due on January 17, 2023 and April 18, 2023. This means that individual taxpayers have the option to skip the fourth quarter estimated tax payment that would be due on January 17, 2023 and instead include it with your 2022 return.
Credit: DustyPixel/Getty Images
The new May 15 deadline also applies to quarterly payroll and excise tax returns that are normally due on January 31 and April 30, 2023.
California residents who have suffered rain or flood related damage can write off certain expenses. “Be sure to write the FEMA declaration number: 3591-EM – on any return claiming a loss,” the IRS shared. IRS Publication 547 can guide you through the requirements.
What do you think about this extended tax deadline?
You can also enjoy:
-IRS says corrected taxes resulted in 12 million new refunds
– Los Angeles’ new ‘Mansion Tax’ – What you need to know
– Middle Class Tax Refund Debit Card Fraud: What You Need to Know
Lead Image Credit: Ivo Gabrowitsch/Getty Images
