California storm victims get tax relief from IRS and FTB, deadline extends to June 17, 2024

California residents and businesses affected by severe storms receive IRS tax relief! Filing deadlines extended to June 17, 2024, providing a financial lifeline

Due to the severe storms and flooding starting from January 21, the IRS has granted tax relief for people and businesses in some parts of California. They have extended the deadline for filing and paying various federal taxes to June 17, 2024. You can find the official IRS announcement here.

IRS and FTB offer tax relief to California storm victims(AP Photo/Mark Lennihan, File)(AP)

As stated in their announcement, the FTB of California also agreed to the same extension for San Diego County taxpayers. The extension covers the elective tax payments for passthrough entities that were due on March 15, 2024.

The tax relief applies to any area that FEMA has declared as a disaster area. At the moment, this includes San Diego County. Anyone who lives or has a business in this area can benefit from the tax relief. If more California areas are added to the disaster area later, they will also get the same relief.

Filing and payment relief

The tax relief delays the deadlines for filing and paying different taxes that were due between January 21, 2024, and June 17, 2024, the postponement period*. This means that affected people and businesses have until June 17, 2024, to file and pay the taxes that were originally due in this period.

To whom does the new deadline of June 17, 2024, apply?

Individual income tax returns and payments that were normally due on April 15, 2024. 2023 contributions to IRAs and health savings accounts for qualified taxpayers. 2024 estimated tax payments that were normally due on April 15, 2024. Quarterly payroll and excise tax returns that were normally due on January 31 and April 30, 2024.

Calendar-year partnership and S corporation returns that were normally due on March 15, 2024. Calendar-year corporation and fiduciary returns and payments that were normally due on April 15, 2024. Calendar-year tax-exempt organization returns that were normally due on May 15, 2024.

There will be no penalties for failing to make payroll and excise tax deposits that were due on or after January 21, 2024, and before February 5, 2024, as long as the deposits were made by February 5, 2024.

Taxpayers who qualify for relief but live outside the disaster area should contact the IRS at 866-562-5227. This also includes workers helping with the relief efforts and associated with a recognized government or philanthropic organization.

*One can check the current list of eligible areas on the IRS disaster relief page.