Important Information Regarding the 2022 Tax Filing and Payment Deadline

We hope this newsletter finds you well. We would like to bring to your attention an important announcement from the Internal Revenue Service (IRS) and California Franchise Tax Board (FTB) regarding tax filing and payment deadlines for disaster-area taxpayers in California.

IRS and FTB 2022 Tax Filing and Payment Deadline – Disaster Relief Postponement

The IRS has announced that eligible taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments. FTB has announced that it will conform to this extension for taxpayers located in all California counties except for Imperial, Kern, Lassen, Modoc, Plumas, Shasta, and Sierra.

The relief postpones various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns. This includes individual income tax returns, various business returns, and returns of tax-exempt organizations, among others. Eligible taxpayers will also have until October 16th to make 2022 contributions to their IRAs and health savings accounts.

The IRS and FTB automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. Therefore, taxpayers do not need to contact the agency to get this relief.

What This Means to You (as an Eligible Taxpayer)

This means that you can defer 2022 income tax filings and payments to on or before October 16, 2023.

If you are eligible based on your home or business address, this means that you can defer 2022 income tax filings and payments to on or before October 16, 2023. We will continue to prepare tax returns and extensions based on the original deadlines. This will give you the flexibility to decide on the timing of your filings and payments, and if you choose to take advantage of the postponement.

However, we recommend making your tax payments in a timely manner, given our experience with the IRS and FTB and the potential administrative challenges that may arise due to this postponement. If you wish to take advantage of the postponement, you can use the instructions and documents we provide, and simply replace the original due date with 10/16/2023.

More Resources

We encourage you to visit the Disaster Assistance and Emergency Relief for Individuals and Businesses page for more details on other returns, payments, and tax-related actions qualifying for the additional time.

• IRS announcement:

  https://www.irs.gov/newsroom/irs-may-15-tax-deadline-extended-to-oct-16-for-disaster-area-taxpayers-in-california-alabama-and-georgia

• CA announcement:

  https://www.gov.ca.gov/2023/03/02/more-time-to-file-state-taxes-for-californians-impacted-by-december-and-january-winter-storms/

• If you are a taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area, please contact the IRS at 866-562-5227.

We are here to help you navigate through these changes. If you have any questions or concerns, please do not hesitate to contact us.