The IRS has made an important announcement for California wildfire victims. As a matter of fact, they qualify for tax relief. What is more, there various deadlines that have been recently postponed.
Therefore, those who qualify for the postponement of some deadlines will be able to sort things out until the October 15 deadline. Check below the deadlines that have been put off for California wildfire victims.
IRS confirms the new deadline will apply to:
- Individual income tax returns and payments which are generally due on April 15, 2025.
- 2024 contributions to health savings and IRA accounts if you are an eligible taxpayer.
- Quarterly payroll and excise tax returns which are usually due on January 31, April 30, and July 31, 2025.
- 2024 quarterly estimated income tax payments which are typically due on January 15, 2025, and estimated tax payments generally due on April 15, June 16, and September 15, 2025.
- Calendar-year tax-exempt organization tax returns commonly due on May 15, 2025.
- Calendar-year corporation and fiduciary tax returns as well as the payments that are usually due on April 15, 2025.
- Calendar-year partnership and S corporation tax returns frequently due on March 17, 2025.
What is more, the IRS claims that penalties for failing to make payroll and excise tax deposits (those due after or on January 7, 2025, and before January 22, 2025) will be abated providing that the deposits are made by January 22, 2025.
Do you need to request filing and penalty relief from the IRS?
The Internal Revenue Service claims that it will be automatically provided (both filing and penalty relief) if you are a taxpayer with an IRS address of record located in the declared disaster area.
Therefore, if you are currently living in one of these areas and the Agency has your address, you do not need to contact the IRS. However, if you have recently moved to the disaster area and the IRS does not have your new address, call the number on the notice to have the penalty abated.
Taxpayers who qualify for tax relief and live outside the disaster area need to call the Internal Revenue Service. The phone number is: 866-562-5227. For more details, visit the official site at: https://www.irs.gov/newsroom/irs-california-wildfire-victims-qualify-for-tax-relief-various-deadlines-postponed-to-oct-15