In a recent announcement on January 10, the Internal Revenue Service stated that the extended deadline for filing federal individual and corporate tax returns and making tax payments to anyone affected by the recent storms in California is May 15, 2023.

Any region declared a Federal Emergency Management Agency (FEMA) disaster zone is eligible for tax relief. As of January 8, 2023, several tax-related due dates have been extended thanks to the relief package. Therefore, impacted individuals and organizations have until May 15, 2023, to submit forms and pay any taxes initially due during this time.

Tax returns for individuals are due on April 18, 2022, while returns for businesses are due on March 15 and April 18, 2022. This, among other things, implies that the deadline for IRA and HSA contributions for the tax year 2022 has been extended to May 15 of that year.

Also, the March 1 deadline for farmers who don’t want to make projected tax payments has been extended until May 15 of the following year (2023). Quarterly projected tax payments, typically due on January 17 and April 18, 2023, have been moved to May 15. This implies that instead of sending in an anticipated tax payment for the fourth quarter of 2022on January 17, 2023, individuals may simply include it with their 2022 tax return. The IRS will accept it if it is postmarked on or before May 15, 2022.

Any quarterly payroll or excise tax reports that would have been due on January 31 or April 30 of 2023 must now be submitted by May 15. In addition, if you make your payroll and excise tax contributions by January 23, 2023, you won’t have to worry about paying penalties for deposits that were originally due on or after January 8, 2023.

Any taxpayer whose official IRS address is in a disaster region will automatically be granted filing and penalty relief. Therefore, no action on the part of taxpayers is required to get this relief. However, impacted taxpayers should contact the IRS at the number provided on any late filing or late payment penalty notices if the original or extended due date for the filing, payment, or deposit falls within the postponement period.

Any taxpayer who is not a resident of the disaster region but whose records are in the impacted area and who has to fulfil a deadline that falls during the delay period will also get assistance from the IRS. Call the IRS at 866-562-5227 if you are a taxpayer who qualifies for relief but who does not reside in the affected region.