On Friday, February 24, the IRS issued an update to their disaster relief deadline extension for taxpayers affected by winter storms in California, Alabama and Georgia. The IRS has extended, to October 16, 2023, Federal tax filing relief to taxpayers located in certain areas (see list below) designated by FEMA. Recently, the California Governor’s office announced that the California Franchise Tax Board will conform to the IRS’s postponement of filing and payment deadlines.
The extended relief applies to filings and tax payments for:
- Farmers who normally file their returns by March 1.
- Individual income tax returns, originally due on April 18.
- Various business returns, normally due on March 15 and April 18.
- Exempt organization returns normally due on May 15.
- Estimated tax payments normally due on April 18, June 15 and September 15.
- Quarterly payroll and excise tax returns normally due on January 31, April 30 and July 31. This does not apply to employment and excise tax deposits.
- California PTE Elective Tax payments due on March 15, 2023 for tax year 2022 and first installment due June 15, 2023 for tax year 2023.
What does this mean for our clients?
We ask that you continue to submit your supporting documentation to us when it becomes available to you. The total time to complete the practice’s returns has not changed, just the possible timing of your tax payments. It is our goal to provide you with completed work product on a timely basis. This will help us continue to offer a high level of service and avoid any undue strain on the professionals dedicated to serving you.
If you have questions regarding the disaster relief deadline extension, please contact us or speak with your BPM tax professional for additional information.
The applicable disaster areas for affected taxpayers include: