IRS Extension of Due Dates

IRS announced on February 24, 2023 that many due dates for most of California residents has been extended to October 16, 2023. We do not yet know whether the California Franchise Tax Board will extend due dates as well, so we have to wait for their determination.  For details of the IRS extension click here.

The IRS extension applies to almost all due dates which are normally between January 1, 2023 and October 16, 2023.

Update on taxation of your California Middle Class Tax Refund (and other similar state payments).

California issued payments to many California taxpayers in late 2022 and into January 2023. These payments are not taxable for California income tax purposes. On February 10, 2023, IRS announced they will not challenge the taxability of these tax payments in California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania, and Rhode Island. For details click on the link to the IRS announcement here.

The 2022 tax season is now underway.

We are accepting a limited number of new clients as referrals from our existing clients if they are willing to file an extension of time to file for the 2022 tax season.

The IRS has designated certain jurisdictions as eligible for storm-related tax relief by extending the deadline to file to May 15, 2023. In general, we will follow the regular filing deadlines for filing this tax season unless you are directly impacted by storm-related issues the present a real hardship to your filing by the regular deadlines. You can review the details of the IRS announcement here.