CA tax - Linkenheimer LLP CPAs & Advisors

Important Reminder for 2022 & 2023 Deferred Tax Payments Due to California Flood Relief

As a friendly reminder, please note that for California residents who took advantage of the tax payment deferral provided by California flood relief, the deferred tax payment deadline is approaching on October 16th. For those qualifying for deferment, all 2022 balance due and 2023 Q1 through Q3 estimates are due on this date. Both the IRS and the California Franchise Tax Board (FTB) have emphasized the importance of meeting this extended deadline to avoid potential penalties and interest. If you have any questions or need assistance in ensuring your taxes are appropriately addressed, our team is here to support you.

By Linkenheimer LLP|2023-10-09T16:33:31+00:00October 9th, 2023|CA tax, tax deadlines|0 Comments

Important Reminder: California’s Winter Storms Postpones June 15 Payments

The winter storms that hit California in December and January have caused a lot of damage and disruption. As a result, taxpayers affected by these storms qualify for an extension to October 16, 2023 to file individual and business tax returns and make certain tax payments ¹. This includes individuals whose tax returns and payments are due on April 18, 2023 and June 15, 2023¹.

As announced by Governor Newsom earlier in the year, California individuals and businesses impacted by 2022-23 winter storms qualify for an extension to file and pay taxes until October 16, 2023.

This includes:

Individuals whose tax returns and payments are due on April 18, 2023.
Quarterly estimated tax payments due January 17, 2023, March 15, 2023, April 18, 2023, June 15, 2023, and September 15, 2023.
Business entities whose tax returns and payments are normally due on March 15 and April 18.
Pass-through entity (PTE) elective tax payments due on March 15, 2023 and June 15, 2023.

Affected counties:

Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe winter storms, flooding, landslides and mudslides that reside or have a business in Alpine, Amador, Butte, Calaveras, Del Norte, […]

By Linkenheimer LLP|2023-05-24T13:09:47+00:00May 24th, 2023|CA tax, california, disaster, tax deadlines|0 Comments

California Conforms to IRS: More Time to File State Taxes for Californians Impacted by Winter Storms

SACRAMENTO – In addition to tax relief measures that Governor Gavin Newsom announced in January, California is also extending the state tax filing and payment due dates to October 16, 2023 for Californians impacted by the winter storms in December and January. This aligns California with the Biden Administration, which announced that the IRS extended various due dates until October 16, as well.

“As communities across the state continue recovering from the damage caused by the winter storms, California is working swiftly to help recovering Californians get back on their feet,” said Governor Newsom. “The state is aligning with the Biden Administration and extending the tax filing deadline in addition to the tax relief announced earlier this year.”

Last month, Governor Newsom announced tax relief for those impacted by winter storms, giving people the ability to claim a deduction for disaster loss and extending certain filing deadlines.

The following counties are eligible for this extended tax relief, per the IRS announcements here and here:

Residents and businesses in Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Inyo, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, […]

By Linkenheimer LLP|2023-03-07T19:48:04+00:00March 3rd, 2023|CA tax, california, disaster, filing deadline, ftb, irs, New Tax Laws|0 Comments

California Conforms To IRS Filing Extensions For California Storm Victims

The Governor’s office has announced that California will conform to the filing extensions granted by the IRS for California storm victims. This means the FTB has extended filing and payment deadlines for many individuals and businesses in California until May 15, 2023.

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

Individual income tax returns;
Business return filings normally due between March 15 and April 18, 2023;
Fourth and first quarter estimated tax payments due on January 17, 2023, and April 18, 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 on or before May 15, 2023;
IRA and health savings account (HSA) contributions; and
Quarterly payroll and excise tax returns, normally due on January 31, 2023, and April 30, 2023.

Below is the complete press release from the Governor’s office:

SACRAMENTO – Californians impacted by winter storms are now eligible to claim a deduction for a disaster loss and will have more time to file their taxes.

“Whether it’s more time to file your taxes or getting a deduction, this […]

By Linkenheimer LLP|2023-01-16T18:32:49+00:00January 16th, 2023|ca, CA tax, california, disaster, ftb, irs, tax deadlines|0 Comments

IRS Announces Tax Relief For Victims Of Winter Storms In California

Victims of severe winter storms, flooding, and mudslides in California beginning January 8, 2023, now have until May 15, 2023, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

Following the disaster declaration issued by the Federal Emergency Management Agency, individuals and households affected by severe winter storms, flooding, and mudslides that reside or have a business in Alameda, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Humboldt, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Ventura, Yolo, and Yuba counties qualify for tax relief.

The declaration permits the IRS to postpone certain tax-filing and tax-payment deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after January 8, 2023, and before May 15, 2023, are granted additional time to file through May 15, 2023. As a result, affected individuals and businesses will have until May 15 to file returns and […]

By Linkenheimer LLP|2023-01-16T18:17:48+00:00January 16th, 2023|ca, CA tax, california, disaster, irs|0 Comments