By Fernando Jimenez
The state of California is conforming with the IRS and extending the tax filing deadline for Californians affected by December and January winter storms. The extended deadline for 2022 filings will be October 16, 2023.
The State’s Extension
According to a news release issued by the office of Governor Gavin Newsom, California’s tax filing extension now aligns the state with the Biden Administration, which also announced the IRS extended various due dates until October 16.
Governor Newsom had previously announced tax relief for those impacted by winter storms in January, allowing people to claim a deduction for disaster loss and extending certain filing deadlines to help alleviate some of the hardship many have endured. Counties eligible for this extended tax relief can be found here and here.
Deductions for Disaster Loss
Taxpayers affected by a presidentially declared disaster may claim a deduction for a disaster loss. Taxpayers may claim a disaster loss when filing an original or amended tax year 2022 tax return.
When filing a return, taxpayers should write the name of the disaster in blue or black ink at the top of their tax return to alert FTB. If a taxpayer receives a late filing or payment penalty notice related to the postponement period, they should call the number on the notice to have the penalty abated.
How We Can Help
The new extension will impact companies or individuals who were impacted by the winter storms throughout California in December and January. Contact RJI CPAs today to learn how we can help ensure a maximum return, especially during a challenging time.