Franchise Tax Board conforms to IRS filing extensions for California storm victims

This relief applies to the following deadlines falling on or after January 8, 2023, and before May 15, 2023:

• Individual income tax returns
• Business tax returns
• Fourth quarter estimated tax payments normally due on January 17, 2023. Individual taxpayers can skip making the fourth quarter estimated tax payment and instead include it with the 2022 return as long as the return is filed or extended on or before May 15, 2023;
• IRA and health savings account (HSA) contributions originally due April 18, 2023;
• Quarterly payroll and excise tax returns, normally due on January 31, 2023, and April 30, 2023

You can access the official Governor’s notice here: www.gov.ca.gov/2023/01/13/tax-relief-for-californians-impacted-by-storms/

If you have any questions, please contact our office.

For more helpful tax and accounting articles, or to sign up for our newsletter, please visit our KKB Insights page. If you have any questions, please contact us.