As a result of January’s terrible weather in California, the IRS extends the tax deadline to grant Californians additional time to file their taxes. When are your taxes due? If you are a California resident, you may be eligible for an extension.
Tuesday, April 18, 2023, is the deadline for the majority of Americans to file their taxes; however, the IRS is granted some Californians an extension. However, how much time do these Californians have to file? How can you decide if you qualify for an extension from the IRS? Explore below.
New California Tax Deadline
The IRS said on January 11, 2023, that hurricane victims in California now have until May 15, 2023, to file federal individual and corporate tax forms and make tax payments.
Those residing in locations designated by the Federal Emergency Management Agency are eligible for the IRS extension (FEMA).
Covered areas include the state’s most populous counties, including Los Angeles, San Diego, Orange, Riverside, Sacramento, and San Francisco.
According to the IRS, the tax relief postpones a number of tax filing and payment deadlines that were previously scheduled to begin on January 8, 2023.
Individuals impacted have until May 15, 2023, to file their tax returns and pay any taxes initially due during this period. This includes 2022 individual income tax returns due on April 18 and 2022 business returns typically due on March 15 and April 18 Also, eligible taxpayers will have until May 15, 2023, to make 2022 payments to their IRAs and HSAs.
The IRS has began accepting tax filings for the tax year 2023. Even if you are still awaiting documents, you can begin filing your taxes immediately. The earlier you file, the sooner you receive your tax refund for 2023.
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How To Get An Income Tax Extension?
According to the IRS, anyone can request a filing extension, not just residents of California. Form 4868 must be filed to acquire an automatic 6-month filing extension. A filing extension does not include a payment extension. Taxes not paid by the initial due date of the return may be subject to a late payment penalty.
Many tax preparation software, including TurboTax, can automatically submit an extension request on your behalf.
E-filing, often known as online filing, appears to offer as many options for completing the task as there are forms to complete. It may rely on your income, your budget, the complexity of your tax return, and your patience with filling out forms to determine which online filing option is optimal for you.
We discovered the finest online tax filing solutions, including IRS Free File and TurboTax, which should be suitable for virtually all taxpayers.
Need some motivation to get going? The quicker you file your taxes, the quicker you will receive your return. On January 23, 2023, the IRS began accepting individual tax returns for 2022.
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