March 3rd, 2023
California has also extended their filing and payment due dates to October 16th, 2023. All items mentioned below have been extended to October 16th. Additionally, the Pass-Through Entity elective tax payment, originally due June 15, 2023, has also been extended to October 16th, 2023.
February 27th, 2023
The IRS has extended the previously extended due date of May 15th to October 16th, 2023. This declaration impacts residents of affected counties tax return due dates and when tax payments are required to be paid as shown below from my original post in January. All items mentioned below have been extended to October 16th. In addition, the 1st, 2nd, and 3rd quarter Federal estimates have also been extended to October 16th, 2023.
IMPORTANT: As of this post, California has not extended the May 15th deadline for California filing and payment due dates.
Original Post
January 16th, 2023
Due to the California storms that hit in early January, impacted counties have been declared a Federal disaster area. These counties include but are not limited to, San Luis Obispo, Santa Barbara, Los Angeles, and San Francisco counties. For a complete list please see the referenced IRS link below. This declaration impacts residents of affected counties tax return due dates and when tax payments are required to be paid.
Tax Filing Due Date
The deadline to file tax returns has been extended to May 15, 2023.
This deadline applies to each of the following return types:
Individual Returns.
C-Corporations, S-Corporations, and Partnerships.
Estate and Trust returns.
Tax Payments
Tax payment due dates have been extended to May 15, 2023.
This deadline applies to the following required tax payments:
Any Federal or California tax balances owed on all affected return types shown above.
1st Quarter 2023 Federal and California estimated tax payments. This includes all return types shown above.
4th Quarter 2022 Federal and California estimated tax payments originally due January 17, 2023.
Farmers and Fisherman who normally file and pay taxes owed by March 1.
IRA and HSA Contributions
IRA and HSA contributions that are normally due April 18, 2023 have also been extended to May 15, 2023.
Rohr CPAs Deadline to Receive Client Documents
As a Firm, we have discussed how best to continue our level of client service, maximize staff availability, and how to minimize procedural interruptions, and have concluded that our original deadlines must be maintained as follows:
S-Corporation and Partnership documents due to our office by February 15th, 2023.
C-Corporation documents due to our office by March 15th, 2023.
Non-Profit documents due to our office by March 31st, 2023.
Individual and Trust return documents due to our office by March 18th, 2023.
We understand that there may be a number of our clients who have been affected by the storms and will find it difficult to get us their documents by the above deadlines. If you are one of those clients, please call us at the office to let us know that there may be a delay in receiving your documents.
Planning Opportunities and Recommendations
Returns that qualify for this disaster relief must be filed appropriately using specific criteria when e-filing or paper filing. We will prepare each qualifying client’s return according to the disaster relief criteria, allowing for a one month deferral of all tax payments due. As inflation is high, I recommend waiting until May 15th to pay your tax balances and 1st quarter estimated tax payments. In an inflationary environment, any fixed payment obligation made in the future will be in your best interest.
Potential IRS or CA Penalty Notices
As this disaster is limited to specific California counties, even with filing the return using specific disaster relief criteria, the IRS or CA may impose penalties on late filing or late payments. If a penalty notice is received, the IRS and CA recommend calling the number on the notice to have the penalty abated and this will be granted as long as the returns are filed and payments made by May 15th, 2023. We can help you respond to these notices in a separate engagement if requested.
[3] 02/24/2023 IRS News Bulletin
[4] 03/02/2023 CA FTB News Bulletin.