Tax and financial advice from the Silicon Valley expert.

California conforms to federal October 16 due date for disaster areas

Governor Newsom has announced that California is conforming to the federal extension of the due date for certain individual and business income tax returns and tax payments to October 16, 2023.

Here is a link to the Governor’s media release. More Time to File State Taxes for Californians Impacted by December and January Winter Storms | California Governor

The release includes a list of affected counties.

The extension applies to tax returns and tax payments otherwise due on or after January 8, 2023 and before October 16, 2023. The extension also applies to 2022 contributions to IRAs, Roth IRAs, and HSAs.

Taxpayers will still want to file their income tax returns as soon as possible as a precaution against identity theft and to get their tax refunds, if applicable, sooner.

Bunching tax payments on October 16, 2023 could create a financial crunch, so many taxpayers who could make their payments later will decide to make their balance due and estimated tax payments on the normal schedule.

Tax and financial advice from the Silicon Valley expert.