Insights
Income tax filing deadline postponed to November 16
October 24th, 2023/Tax
As you are aware, the IRS made news on October 16, 2023, when it announced a last-minute postponement to further extend the tax filing and payment deadlines for most California taxpayers to November 16, 2023. In response, the California Franchise Tax Board (FTB) also announced on the evening of October 16, 2023, that it is conforming to the most recent IRS postponement of tax filing and payment deadlines to November 16, 2023, for California taxpayers in the 55 counties impacted by storms in late 2022 and early 2023.
The returns and payments eligible to qualify for this postponement include:
- 2022 individual income tax returns and payments normally due on April 18;
- 2022 IRA and HSA contributions;
- Quarterly estimated tax payments normally due on April 18, June 15, and September 15;
- Calendar-year 2022 partnership and S corporation returns normally due on March 15;
- Calendar-year 2022 corporate and fiduciary income tax returns normally due on April 18;
- 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;
- 2022 passthrough entity elective tax election and final payment of the 2022 passthrough entity tax, provided that the entity made a timely June 15, 2022, prepayment;
- 2023 passthrough entity tax prepayment (which would normally have been due June 15, 2023);
- File a superseding return and make or revise a 2022 passthrough entity election
Affected taxpayers in 55 California’s counties – all except Lassen, Modoc, and Shasta counties – qualify.
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Therefore, taxpayers do not need to contact the agency to get this relief. In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records are located in the affected area. In these kinds of unique circumstances, the affected taxpayer could receive a late filing or late payment penalty notice from the IRS for the postponement period. The taxpayer should call the number on the notice to have the penalty abated or contact the IRS at 866-562-5227.
Please be aware that we have recently been notified by some clients who received late filing notices despite having the appropriate address of record and relief identification notice on the tax return. Our clients should contact us right away if one of these notices is received.
The IRS’s announcement can be found at: IRS postpones tax deadline for California taxpayers
The FTB’s news release is available at: Due date for most CA state tax returns postponed
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TAGS: Tax
