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IRS Gives Tax Relief to Those Affected by the California Wildfires, Allows Extension Filers Until January 31 to File

10.13.17

The Internal Revenue Service announced today that individuals and businesses in Butte, Lake, Mendocino, Napa, Nevada, Sonoma and Yuba counties will have until January 31, 2018 to file certain individual and business tax returns, and make certain tax payments. This includes taxpayers who reside in these counties as well as those with businesses, or records necessary to meet a deadline, located in these counties. Firefighters and relief workers from elsewhere also qualify for this tax relief. This includes additional filing extensions for taxpayers with valid extensions until October 16, 2017.

The IRS is also waiving late-deposit penalties for federal payroll and excise tax deposits normally due after October 8 and before October 23, if the deposits are made by October 23, 2017. The IRS will automatically provide filing and penalty relief to any taxpayer with an IRS address of record located in the affected areas. However, if an affected taxpayer receives a late filing or late payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date falling within the postponement period, the taxpayer should contact the number on the notice. To learn more, visit the IRS website by clicking here.

The Franchise Tax Board (FTB) today announced special tax relief for California taxpayers impacted by wildfires. Affected taxpayers are granted an extension to file 2016 California tax returns and make certain payments until January 31, 2018.The press release was emailed to certain mailing lists by the FTB this morning and can be viewed here.  

To learn more about employment tax relief, visit the EDD website by clicking here. To learn more about tax and fee relief, visit the CDTFA website by clicking here.

We offer our condolences to those affected by the California wildfires. We are relieved to inform you that our colleagues in Santa Rosa and St. Helena are doing well under these circumstances, however, we remain concerned, and will continue to keep those affected in our thoughts, as well as providing support to them.

BPM is here to assist you.
If you have any questions or would like further assistance, please contact Tom Garigliano, CPA, Tax Practice Chair, at tgarigliano@bpmcpa.com or (707) 524 – 6535.