The Governor’s office announced on January 13, 2023, that California will conform to the filing extensions granted by the Internal Revenue Service (IRS) for California storm victims. This means that filing and payment deadlines for affected individuals and businesses in California are extended to May 15, 2023.
On January 10, the IRS announced tax relief for California storm victims in disaster areas designated by the Federal Emergency Management Agency (FEMA). This tax relief applies to individuals who live in and businesses whose principal place of business is located in disaster areas. The announcement postpones tax filings and payment deadlines that are due from January 8, 2023, through April 30, 2023, including individual and business income tax returns, payroll and excise returns, and payments due during that period. The due date for returns and payments is extended to May 15th.
» Read our full article here: krostcpas.com/tax-news/california-storm-victims-tax-relief
Delaying payment of taxes due until May 15th is the most beneficial aspect of the disaster relief and you are encouraged to take advantage of this opportunity. However, recalling the chaos of the extended due dates during the pandemic, taxpayers are urged to not delay the process of getting returns prepared. Even if you want to file and pay at a later time, start the process as early as possible.
The counties included at the time of this publication, i.e. the CA 2023-01 list are listed below. The relief is automatically available to taxpayers who reside or have a business in the following counties:
Alameda | Marin | Sacramento | Santa Cruz |
Colusa | Mariposa | San Benito | Solano |
Contra Costa | Mendocino | San Bernardino | Sonoma |
El Dorado | Merced | San Diego | Stanislaus |
Fresno | Mono | San Francisco | Sutter |
Glenn | Monterey | San Joaquin | Tehama |
Humboldt | Napa | San Luis Obispo | Tulare |
Kings | Orange | San Mateo | Ventura |
Lake | Placer | Santa Barbara | Yolo |
Los Angeles | Riverside | Santa Clara | Yuba |
Madera |
To find out more about this relief, visit the Internal Revenue Service (IRS) and Federal Emergency Management Agency (FEMA) website.
Please contact our offices if you have any questions regarding this tax extension.
About the Authors
Lou Guerrero, CPA, MBT, Tax Practice Leader
Tax, Tax Specialty Services, Financial Services
Luis (Lou) A. Guerrero is Vice President of KROST CPAs and Consultants. As the Tax Practice department leader for KROST, Lou is responsible for the overall tax function of the firm and specializes in clients in the financial services sector (hedge funds, money managers, private equity), family office and high net worth individuals, real estate, food service (restaurants and related), technology (including manufacturing and distribution) and professional service firms. » Full Bio
So Sum Lee, CPA, Principal
Tax, Real Estate, Hospitality, Estate & Gift, Trust and Probate
So Sum Lee is a Tax Principal at KROST. So Sum has over 25 years of experience in public accounting and has a wide range of experience in Taxation, as well as servicing high-net-worth clients. So Sum’s area of expertise includes industries such as wholesale, real estate investments, and restaurants. » Full Bio