The IRS and California recently announced that disaster-area taxpayers who reside in or have a business in the following California counties will now have until October 16, 2023 to file and remit payment for federal and California individual and business tax returns. Previously the deadline had been postponed to May 15 for these areas:
Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba.
The tax relief postpones various tax filing and federal payment deadlines that occurred starting on January 8, 2023 until October 16, 2023. Please refer to the following examples of Federal and California delayed payments and filings that are now due October 16, 2023:
- 2022 Individual and trust federal and California fourth quarter estimates originally due January 17, 2023.
- 2022 Individual, trust, gift and estate federal and California taxes originally due April 18, 2023 through October 16, 2023.
- 2023 Individual and trust federal and California first quarter through third quarter estimates originally due April 18, 2023, June 15, 2023 and September 15, 2023.
- 2022 C corporation federal and California balance due and 2023 first through third quarter estimate payments originally due April 18, 2023, June 15, 2023 and September 15, 2023.
- 2022 contributions to IRAs and health savings accounts originally due April 18, 2023.
- 2022 and 2023 CA S Corporation tax and estimates originally due April 18, 2023, June 15, 2023 and September 15, 2023.
- 2022 and 2023 PTE elective tax payments originally due March 15, 2023 and June 15, 2023.
- 1031 Like-kind exchange transaction identification and replacement period.
Please refer to the following Federal and California news releases for additional information:
- Federal – https://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-severe-winter-storms-flooding-and-mudslides-in-california
- California – https://www.gov.ca.gov/2023/03/02/more-time-to-file-state-taxes-for-californians-impacted-by-december-and-january-winter-storms/
Contact a tax advisor here at WFY to discuss additional details regarding the Federal and California filing and payment date changes, or sign-up for our newsletter here to receive more updates.
Wright Ford Young & Co. is headquartered in Irvine, CA and is the largest single office CPA firm in Orange County. WFY is a full service corporate accounting firm offering audit, tax, estate and trust, and business consulting services to closely held company and family business owners. More information about our Firm can be found at www.cpa-wfy.com