Inside: San Diego County have extended the deadline for its residents to file the tax, read the post to know more about the new deadline & eligibility for it.
In the event of severe storms and flooding that began on January 21, 2024, San Diego County residents and businesses have been granted a crucial extension for filing and paying their taxes. This extension of deadline came as a relied to the affected residents who are impacted by physically or economically now may take more time to recover from their situation first then they can file their taxes. In this post we will explore the important timeline which are extended by San Diego county, Stay with us few more minute know every detail.
Extended Deadline Details
Individuals and businesses those are impacted by the floods in San Diego County for them California Franchise Tax Board (CFTB) has announced an extension date until June 17, 2024, for filing and paying taxes. This extension are applicable with certain conditions as mentioned below. Please read the conditions before to know that whether you’re eligible for deadline relief or not various.
- 2023 Individual Income Tax Returns and Payments: Typically due on April 15, 2024.
- Quarterly Estimated Tax Payments: For quarters ending on April 15 and June 15, 2024.
- 2023 Partnership, Limited Liability Company, and S Corporation Returns: Normally due on March 15, 2024.
- 2023 Corporate and Fiduciary Income Tax Returns and Payments: Due on April 15, 2024.
- 2023 Tax-Exempt Organization Returns: Generally due on May 15, 2024.
- Passthrough Entity Elective Tax: Due on March 15, 2024.
This extension is specific to San Diego County due to the State of Emergency declarations on February 4, 2024, and March 22, 2024. It’s important to note that this relief applies exclusively to those within the affected area; residents and businesses located outside of San Diego County are required to adhere to the standard filing and payment deadlines.
Claiming Disaster Loss Deductions
Additionally, the FTB has made provisions for taxpayers to claim deductions for disaster losses on their tax returns. This can provide further financial relief by reducing taxable income for those who’ve suffered property damage or loss as a result of the floods.
Final Words
While this extension offers a reprieve, it’s crucial for affected taxpayers to plan accordingly and ensure that all documents and payments are prepared for submission by the new deadline. Utilize this period wisely to gather any necessary documentation and seek assistance if needed.
For more detailed information on post-disaster actions by government & aid program, we recommend San Diego resident to visit the California Franchise Tax Board’s official website frequently.
In these challenging times, this tax filing extension is a welcomed support for those affected by the San Diego County floods, offering a bit more breathing room as they work towards recovery.