California taxes are due soon. The IRS and the state extended the tax deadline for 2022 returns to Oct. 16 — that’s Monday! So, Californians who haven’t filed already should file federal and state tax returns by the deadline.
But, recently, California and the IRS have offered additional tax deadline relief. This relief is for those impacted by the wildfires in Hawaii and seawater intrusion in Louisiana that have a California filing requirement. The new tax deadline extension means some taxpayers and businesses who would have had an Oct. 16, 2023, extended tax filing deadline now have until Feb. 15, 2024, to file.
Here’s what you need to know about both California tax extensions.
California tax deadline extension: Returns due Oct. 16
When tax filing deadlines are extended, so are some other related tax deadlines. So, Californians in storm-impacted areas of the state were also given more time to contribute to their IRAs and health savings accounts (HSAs). The deadline for residents who were eligible for the tax extension, to make those contributions is Oct. 16, 2023.
Note: Keep in mind that usual IRA contribution limits and HSA contribution limits still apply, so double-check to see if you have room to contribute before you file.
The IRS tax deadline extension for people in California also applies to fourth-quarter 2022 estimated payments of federal income tax. So, for example, if you had an estimated tax payment due on Jan. 17, 2023, the IRS says that you could skip that payment and include it with your tax return when you file on or before Oct. 16.
More from Kiplinger: 2023 California Tax Deadline Extension: What You Need to Know
California Franchise Tax Board extension for Hawaii and Louisiana
Earlier this month, the California Franchise Tax Board (FTB) announced special state tax relief for taxpayers and businesses affected by Hurricanes Idalia and Lee, wildfires in Maui and Hawaii, and seawater intrusion in Louisiana. The IRS granted similar tax deadline relief for Hawaii and for Louisiana and California usually conforms to IRS tax deadline extensions.
This means taxpayers and businesses in presidentially declared disaster areas have an extension to Feb. 15, 2024, to file the 2022 income tax returns for California. (This extension also applies to making any income tax-related payments that would have been due between Sept. 15, 2023, and Jan. 16, 2024.)
“For some, this will mean several additional months to file their California tax returns or make their quarterly estimated tax payments to the state,” state controller and FTB chair Malia M. Cohen stated in a release about the extended deadline.
It’s important to note, however, that tax payments for the 2022 tax year that were originally due on April 18, 2023, aren’t eligible for the extension.
The extended deadlines vary by state, but the Feb.15, 2024, tax deadline extension applies to quarterly estimated income tax payments normally due on Sept. 15, 2023, and Jan. 16, 2024. It also applies to:
- Calendar-year partnerships and S corporations whose 2022 extensions run out on September 15, 2023.
- Calendar-year corporations whose 2022 extensions run out on October 16, 2023.
- Calendar-year tax-exempt organizations whose extensions run out on November 15, 2023.
What about disaster losses?
The FTB reminds affected taxpayers that they can claim a deduction for disaster losses. See FTB Publication 1034 for more information. But generally, you can claim the disaster loss for the 2023 tax year when you file your tax return for the 2023 tax year (in April 2024). Or, you can your disaster loss against 2022 income on this year’s return.
Visit the California Franchise Tax Board disaster loss page for answers to common questions.
Related Content
- Six Tax Deadlines for October 16
- California Tax Deadline Extension: What You Need to Know
- States That Won't Tax Your Powerball Winnings
- Cheapest Places to Live in California
