How Do Disaster Declarations Change Tax Season?

          The tax season for this year has been established. As announced by the Internal Revenue Service (IRS), the first day tax returns will be accepted is January 23. The deadline to file is April 18. However, in light of the recent devastating storms, many counties in California were declared federal disaster areas. How does this designation change things for the affected taxpayers?

        As is often stated, this allows for federal funding to care for the practical needs of disaster victims. This also makes the way for federal agencies like the (IRS) to have the ability to adjust deadlines as circumstances dictate. In this case, the taxpayers that live in California counties that have been declared federal disaster areas, will have until May 15 to file federal individual and business tax returns. This also postpones any estimated tax payments. This allows for time to focus on what is needed now.

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