IRS extends tax filing deadline for California residents.
Extended Deadline for Tax Filing in California
Good news for Californians! The IRS and the state’s Franchise Tax Board have granted an additional month to file last year’s state and federal taxes. This extension comes after the devastating storms that hit the state last winter.
Most taxpayers in the Golden State now have until October 16 to submit their tax returns. But that’s not all!
The IRS recently announced that the deadlines to file 2022 returns and pay any taxes due have been further postponed to November 16.
Residents and businesses in most California counties—excluding Lassen, Modoc, and Shasta counties—qualify for the deadline extension.
The severe rain and snow that battered the state earlier this year led to 55 out of 58 counties being declared disasters by the Federal Emergency Management Agency.
The IRS stated, “As long as their address of record is in a disaster-area locality, individual and business taxpayers automatically get the extra time, without having to ask for it.”
Furthermore, taxpayers affected by a presidentially declared disaster can claim a deduction for a disaster loss, according to the California Franchise Tax Board.
A disaster loss for the 2023 tax year can be claimed when filing next spring, or it can be deducted against 2022 income on this year’s return.
If you have already filed your taxes this year, you can still file an amended return.
How long is the extended deadline for taxpayers in California to submit their tax returns?
Being able to meet tax filing deadlines is crucial for individuals and businesses alike. However, unexpected events and circumstances can sometimes make it challenging to meet these obligations. In recognition of this, the IRS and California’s Franchise Tax Board have decided to grant an extended deadline for tax filing in the state.
This additional month to file last year’s state and federal taxes comes in response to the devastating storms that hit California during the winter season. The storms caused significant disruption and hardship for many residents and businesses, making it difficult for them to gather necessary tax documents and meet the original deadline. By extending the deadline, the IRS and the Franchise Tax Board aim to alleviate some of the pressure on taxpayers and give them the extra time needed to complete their tax returns.
As a result of this extension, most taxpayers in California now have until October 16 to submit their tax returns. This additional time can provide much-needed relief for those who were affected by the storms or faced other unexpected challenges. It allows individuals and businesses to properly review their financial records, gather necessary documentation, and ensure accurate reporting.
But that’s not all. In a recent announcement, the IRS also extended the deadlines to file 2022 returns and pay any taxes due. Taxpayers now have until November 16 to fulfill these obligations, providing them with even more flexibility and time to meet their tax responsibilities.
The decision to extend the tax filing deadlines in California is a testament to the understanding and empathy shown by the IRS and the state’s Franchise Tax Board. It acknowledges the difficulties faced by taxpayers during challenging times and aims to support them in fulfilling their tax obligations without unnecessary burden or penalties. The extended deadlines offer a lifeline for those who may have been struggling to meet their tax requirements due to circumstances beyond their control.
It is important for Californians to take advantage of this extended deadline and use the additional time wisely. Taxpayers should use this opportunity to carefully review their financial situation, consult with tax professionals if needed, and ensure accurate and timely filing of their tax returns. Doing so will help avoid any potential issues or penalties associated with late or incomplete filings.
Taxpayers can find all the necessary information and resources related to the extended deadline on the IRS and the Franchise Tax Board’s official websites. These websites provide guidance, forms, and instructions to help individuals and businesses navigate the tax filing process successfully. It is advisable to refer to these official sources to ensure compliance with all relevant regulations and requirements.
In conclusion, the extended deadline for tax filing in California is excellent news for residents and businesses in the state. It recognizes the challenges faced by taxpayers due to the devastating storms and provides them with the necessary relief and flexibility to meet their tax obligations. Taxpayers should utilize this additional time to ensure accurate and timely filing, and consult with professionals if necessary. By doing so, they can fulfill their tax responsibilities and avoid any potential issues or penalties associated with late or incomplete filings.
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