Due to severe storms and related flooding, the IRS announced on February 27, 2024, that individual and business taxpayers in San Diego County are granted automatic filing relief until June 17, 2024. The Franchise Tax Board has confirmed that California will conform to the IRS’s announcement for storm-related disaster postponement for San Diego County taxpayers. 

This extension for filing and payment includes the following:

  • Individuals whose tax returns and payments are due on April 15, 2024.
  • Quarterly estimated tax payments due on April 15, 2024.
  • Calendar year Partnerships and S-Corporations whose tax returns are normally due on March 15, 2024.
  • Calendar-year Corporation and Fiduciary returns and payments normally due on April 15, 2024.
  • Calendar-year Tax-exempt organization returns normally due on May 15, 2024.
  • Pass-through entity (PTE) elective tax payments due on March 15, 2024.
  • 2023 contributions to IRAs and health savings accounts (HSAs) for eligible taxpayers. 

Additionally, penalties for failing to make payroll and excise tax deposits due on or after January 21, 2024, and before February 5, 2024, will be abated, provided the deposits were made by February 5, 2024.

Affected individuals and businesses in San Diego County now have until June 17 to file their tax returns and pay any federal and state taxes due between January 21 and June 17, 2024. Payments due on June 17th must be made by that date. Taxpayers in San Diego County seeking filing extensions beyond June 17, 2024, must file for these extensions by the June 17th deadline.

This announcement only covers San Diego County. Currently, no other counties in California are eligible for the filing postponement.

The IRS will assist taxpayers who live outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area should contact the IRS at (866) 562-5227. 

The June 17th filing postponement matches similar relief provided to taxpayers in other parts of the country suffering from severe storms, such as those for parts of Connecticut, Maine, Michigan, Rhode Island, and West Virginia. The current list of eligible localities is always available on the disaster relief page on IRS.gov.

Aura Advisors still recommends that our clients continue to file by the original deadlines if they are not affected by the disaster to avoid potential notices.  If you have any questions about this extension, please reach out to one of our team members.

 

Aura Advisors, an Accountancy Corporation is a boutique tax consulting, compliance, and representation firm working with affluent individuals and owners/officers/founders of start-up/emerging growth companies. Building connections beyond the code.