CALIFORNIA—On October 16, the California Franchise Tax Board confirmed most Californians will have until November 16 to pay their 2022 taxes without penalty.
According to the Internal Revenue Service (IRS), there are over 55 counties in California who qualify for an extension due to natural disasters that occurred during the 2022 tax year. The IRS notes that the usual spring due dates were postponed.
Fifty-five of California’s fifty-eight counties qualify for the postponement. The three counties that do not qualify are Lassen, Modoc, and Shasta.
The IRS provides the relief through the Federal Emergency Management Agency (FEMA). “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,” states the IRS on its website.
Eligible returns and payments are as follows:
-2022 Individual income tax returns normally due on April 18th
-Eligible taxpayers with 2022 contributions to IRAs and health savings accounts
-Quarterly estimated tax payments normally due on April 18, June 15, and September 15th
-Corporate returns normally due on April 15
-Calendar-year-2022 partnership and S Corporation returns normally due on March 15th.
-Calendar-year- corporate and fiduciary income tax returns/payments normally due on April 18th.
-Quarterly payroll and excise tax returns normally due on May 1, July 31, and October 31. Calendar-year-2022 returns filed by tax-exempt organizations normally due on May 15.
To qualify for this tax relief, the IRS will automatically provide relief from filing fees and penalties normally accrued for those filing after the due date.
Businesses which took a loss in last year’s storms and who chose to claim them on their tax returns could qualify for an additional six months.
For more information see Publication 547 on the IRS.gov website.