Tax Relief Information
As a result of the recent storms in California, the governor declared a state of emergency in many counties affected by the storms. This declaration extended tax payment and tax return filing deadlines to May 15th, 2023, as discussed below. We are notifying you of this recent change so that you are aware of your options if you reside in any of the counties affected. If your home or business address is within one of the counties listed below you are considered to have been affected. It is our intention as a firm to adhere to the original/traditional tax deadlines.
The IRS and California franchise board released information surrounding filing extensions and the recent California Storms. The FTB has extended filing and payment deadlines for many individuals and businesses in California until May 15, 2023. This includes 2022 individual income tax returns due on April 18, as well as various 2022 business returns normally due on March 15 and April 18. Among other things, this means that eligible taxpayers will have until May 15 to make 2022 contributions to their IRAs and health savings accounts. The relief applies to the following deadlines falling on or after January 8, 2023, and before May 15, 2023:
- Individual Income tax returns;
- Business return filings normally due between March 15 and April 18, 2023;
- Third and fourth quarter estimated tax payments due January 17, 2023, and April 18, 2023. Individual taxpayers can skip making the fourth quarter estimated tax payment and instead include it with the 2022 return as long as the return is filed on or before May 15, 2023;
- IRA and health savings account (HAS) contributions; and
- Quarterly Payroll and excise tax returns, normally due on January 31, 2023, and April 30, 2023.
The relief is automatically available to taxpayers who reside or have a business in the following counties:
| Alameda | Kings | Merced | Sacramento | San Santa Barbra | Tehama |
| Colusa | Lake | Mono | San Benito | Santa Clara | Tulare |
| Contra Costa | Los Angeles | Monterey | San Diego | Santa Cruz | Ventura |
| El Dorado | Madera | Napa | San Francisco | Solano | Yolo |
| Fresno | Marin | Orange | San Joaquin | Sonoma | Yuba |
| Glenn | Mariposa | Placer | San Luis Obispo | Stanislaus | |
| Humboldt | Mendocino | Riverside | San Mateo | Sutter |
Here are links to the FTB and IRS websites about such changes:
- https://www.gov.ca.gov/2023/01/13/tax-relief-for-californians-impacted-by-storms/
- https://www.irs.gov/newsroom/irs-california-storm-victims-qualify-for-tax-relief-april-18-deadline-other-dates-extended-to-may-15#:~:text=WASHINGTON%20%E2%80%94%20California%20storm%20victims%20now,Emergency%20Management%20Agency%20(FEMA).
If you have any questions or need further information about this, please contact our office and we will be glad to help you.
