California’s October 16th, 2023 tax deadline

Back in January 2023, the IRS announced that it was extending the deadline for filing federal returns for most Californians. California’s Franchise Tax Board followed suit in March. What prompted the one-time only extensions for filing federal and state taxes for most Californians?

The explanation lies with the winter storms that brought record snowfall and widespread flooding throughout the state in the early part of the year. While tax deadlines for federal taxes typically follow a set schedule, the IRS may extend the deadline in the event of a disaster. 

This year, the deadline to file your federal taxes for the 2022 tax year was April 18 if you live in California counties that weren’t declared a federal disaster. Nearly all of the counties in California were included in one of the four FEMA disaster declarations, and residents will have until October 16, 2023 to file their state and federal taxes. The exceptions are: Imperial, Kern, Lassen, Modoc, Plumas, Shasta, and Sierra counties. However, if you’re a resident of one of the aforementioned counties, you can file for an extension to file by October 16, 2023.

File today

Both the federal extension and the extension of California’s tax deadline date can really help to alleviate some of the stress resulting from having to deal with property damage caused by the winter storms. 

Having the option to file late this year provides potential benefits for taxpayers who experienced casualty losses in federally declared disaster counties, especially if you’re planning on claiming a disaster loss on an original or amended 2022 tax return.

However,  it’s still a good idea for you to continue working with your tax professional to prepare your returns and file as soon as possible if you want to get a refund before April of 2024. 

You still have time

Armed with the knowledge that it may take time to get a refund if one is coming to you, you’ll want to try and file your taxes before October 16th, 2023. 

If you have disaster losses and are unsure as to how to claim them on your tax return, or if you have any other questions or concerns associated with filing your 2022 federal and/or state taxes, contact a qualified tax professional,

GYL CPAs and Advisors, CA tax accountants for individuals, offer highly accurate, accountable, and proactive tax planning and preparation services, the goal of which is to help you maximize your opportunities while minimizing your liabilities.

To find out how we can help, contact our San Diego or Ontario office to schedule a free consultation.