Individuals and businesses with their principal residence or principal place of business in Los Angeles County during the Los Angeles County fires that began on January 7, 2025, qualify for a postponement to file and pay taxes until October 15, 2025.
Tax relief is being granted to southern California residents affected by the recent, devastating fire and weather events.
IRS Announcement
- Affected Area: Southern California, specifically Los Angeles County.
- Relief Provided: Taxpayers have until October 15, 2025, to file various federal individual and business tax returns and make tax payments.
- Postponed Deadlines: Includes individual income tax returns, quarterly estimated tax payments, payroll and excise tax returns, and more.
- Automatic Relief: The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area.
- See the IRS press release dated Jan. 10 for details: California wildfire victims qualify for tax relief; various deadlines postponed to Oct. 15
California Franchise Tax Board Announcement
- Affected Area: Los Angeles County.
- Relief Provided: Taxpayers have until October 15, 2025, to file California tax returns and make tax payments.
- Postponed Deadlines: Includes individual tax returns, quarterly estimated tax payments, business entity returns, and tax-exempt organization returns.
- Alignment with Federal Relief: This state relief aligns with the federal extension granted by the IRS.
- CFTB webpages reflect these updates and can be accessed here:
- Emergency tax relief
- Los Angeles County fires
- Help with Los Angeles County fire relief
- Disaster declaration tax payments
Both announcements aim to provide relief to individuals and businesses affected by the recent wildfires, helping them manage their tax obligations during this challenging time. There are substantial details for each program, particularly the IRS relief. Reach out to your TaxOps advisor with any concerns.
Read more
- Tax News Flash – Emergency tax relief for Los Angeles County fires
- IRS News Release: https://www.irs.gov/newsroom/irs-california-wildfire-victims-qualify-for-tax-relief-various-deadlines-postponed-to-oct-15
Read more
- Auditor Independence in the Age of Private Equity: What CFOs Need to Know
- R&D Credits for Software Companies: Scrum Teams, Qualifiers, and Section 174 After OBBBA
- Section 174 Decoupling: What Tax Pros Need To Know State By State
- TaxOps Welcomes Sean Espy as Partner, Tax Minimization
- Your Tax Footprint Is Probably Bigger Than You Think: What Finance Leaders Need to Know About State Nexus
Recent Comments