Victims of wildfires ravaging parts of California in Butte, Los Angeles and Ventura counties can qualify for tax relief under the federal government’s major disaster declaration for the state, the Internal Revenue Service.
The emergency declaration will give residential or business taxpayers additional time for select tax filings due before April 30, 2019. For instance, certain deadlines falling on or after Nov. 8, 2018 and before April 30, 2019, are granted additional time to file through April 30, 2019. This includes 2018 individual income tax returns and payments normally due on April 15, 2019. It also includes the quarterly estimated income tax payments due on Jan. 15, 2019 and April 15, 2019 and the quarterly payroll and excise tax returns normally due on Jan. 31, 2019. It also includes tax-exempt organizations that operate on a calendar-year basis and had an automatic extension due to run out on Nov. 15, 2018.
The IRS says 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 that falls within the postponement period, the taxpayer should call the telephone number on the notice to have the IRS abate the penalty.
Affected taxpayers are automatically identified within the covered disaster area, but affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.
Additional information about who qualifies for disaster recovery can be found at disasterassistance.gov.
If you, your business, or a loved one has been affected by the fires and you want to learn more about the available tax relief, we are here to help. Contact one of our specialists at 925.271.8700 or at firstname.lastname@example.org.