Through various pronouncements, both the IRS and state of California have announced that since residents of California were affected by recent disasters, most Californians have until October 16, 2023 to file individual and business tax returns. The time to remit payments is also extended. Only three California counties are not included in these pronouncements (Lassen, Modoc, and Shasta). Anyone residing in a designated disaster area will automatically qualify for the postponed deadline.
Keep reading for additional details from WVCBA Chair-elect Andrew Kiefer, Managing Director of CBIZ & Mayer Hoffman McCann P.C.
Tax returns and payments are included in the delayed deadline:
• 2022 Individual Income, Business Income, Gift and Estate Tax Returns due on or after Jan. 8 through Oct. 16, 2023.
It also applies to payment for these tax returns:
• IRA, Pension and Health Saving Accounts contributions
• 2022 4th Quarter- that were due Jan. 17
• 2023 1st Quarter- normally due Apr. 18
• 2023 2nd Quarter- normally due Jun. 15
• 2023 3rd Quarter- normally due Sept.15
• California PTE Elective Tax Payments due Apr. 18, 2023 and Jun. 15, 2023
• 1031 Exchange - 45 and 180-Day Deadlines are extended if they fall on or after Jan 8, 2023
Anyone residing outside a designated disaster area can still qualify for the delayed deadlines if you meet any one of three conditions:
• The records you need to complete the return are inside the area (Example you are a partner in a partnership or shareholder in a S Corp inside the affected area waiting on your K-1)
• The Taxpayer’s tax preparer is inside the disaster area.
• The Taxpayer is helping the government or a recognized charity with relief efforts in this area.