California Residents: IRS and state grant payment and filing extension to May 15, 2023

Hi Everyone ­–

This newsletter is directed to California state residents only.

The IRS and state of California have announced that California storm victims qualify for tax relief, including postponement of various tax filing and payment deadlines that occurred starting on January 8, 2023.

Individuals and households that reside or have a business in eligible counties, including San Diego County, qualify for tax relief. The current list of eligible localities is available on the disaster relief page on IRS.gov. Affected individuals now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments. The May 15 deadline applies to:

• 2022 individual income tax returns, normally due on April 18.
• 2022 business returns, normally due between March 15 and April 18, 2023.
• 2022 contributions to IRAs and health savings accounts.
• Quarterly estimated tax payments, normally due on January 17 and April 18. Individual taxpayers can skip making the fourth quarter estimated tax payments, normally due January 17, and instead include it with the 2022 return they file, on or before May 15.
• Quarterly payroll and excise tax returns normally due on January 31 and April 30. Additionally, penalties on payroll and excise tax deposits due on or after January 8 and before January 23 will be abated as long as the tax deposits are made by January 23, 2023.

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. For more information on returns, payments, and tax-related actions qualifying for the additional time, visit the disaster relief page on IRS.gov.

Please let us know if you have any questions about how this applies to you and your tax returns.