Some Californians have more time to file federal and state tax returns because of severe weather and natural disasters.
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Taxpayers in certain parts of California who have been affected by severe storms have been granted a tax deadline extension by the IRS.
This extension applies to the 2023 tax returns normally due on Tax Day, April 15, 2024. As a result, individuals and businesses in the affected areas now have until June 17, 2024, to file various federal tax returns and make payments.
The IRS is offering this tax deadline relief to individuals and businesses residing or operating in disaster-stricken regions of San Diego County. However, the IRS could add additional California localities later. This extension applies to areas designated by the Federal Emergency Management Agency (FEMA).
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Here is more of what you need to know.
The California tax deadline extension covers tax filing and payment deadlines initially falling between January 21, 2024, and June 17, 2024. Affected taxpayers in San Diego County have until June 17, 2024, to fulfill their tax obligations, including filing federal tax returns and making payments initially due during this period.
The extended filing deadline impacts several other tax obligations, including contributions to IRAs and health savings accounts (HSAs), estimated tax payments, payroll and excise tax returns, partnership and corporation returns, and tax-exempt organization returns.
The IRS disaster relief page on its website provides details on eligible returns, payments, and tax-related actions. Also, see Kiplinger's report: States With IRS Tax Deadline Extensions.
It's important to note that while the extension grants additional time for filing, taxpayers still need to request extensions beyond June 17, 2024, electronically by April 15, 2024. Requests filed between April 15 and June 17, 2024, can only be submitted on paper. Regardless of the method, taxpayers must file until October 15, 2024, with payments still due by June 17, 2024.
San Diego County taxpayers affected by severe storms and flooding also have state tax deadline relief from the California Franchise Tax Board (FTB).
This extension applies to various tax obligations, including individual tax returns due on April 15, 2024, quarterly estimated tax payments, business entity returns usually due in March and April 2024, pass-through entity (PTE) elective tax payments, and tax-exempt organization returns normally due on May 15, 2024.
To pay your California state tax (if you owe), you can visit the California FTB website. There, you will find information about various payment methods, like paying by credit card, check, or money order, or directly from your bank account. The website also provides options for electronic funds transfer and payment plans.
California’s Franchise Tax Board (FTB) provides information for residents in storm-impacted areas who need to claim disaster losses.
The FTB says that affected taxpayers can claim the losses on original and amended returns for the 2023 tax year.
To claim disaster losses on your federal tax return, generally, the losses must be related to your home, household items, and vehicles and be caused by a federally declared disaster, according to the IRS.
However, you cannot deduct disaster losses that are covered by insurance unless you file for reimbursement on time and reduce your claimed losses by the amount you were reimbursed.
If you have disaster losses and are not sure how to claim them on your tax return, it's a good idea to consult a qualified tax professional.
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Senior Tax Editor, Kiplinger.comAs the senior tax editor at Kiplinger.com, Kelley R. Taylor simplifies federal and state tax information, news, and developments to help empower readers. Kelley has over two decades of experience advising on and covering education, law, finance, and tax as a corporate attorney and business journalist.
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