The clock is ticking for taxpayers! The deadline to file your state and federal income tax returns is quickly approaching.
California Tax Deadline: A Smooth Process
While the typical filing season ended in November 2023 due to California's winter storms, the federal deadline remains April 15, 2024. To make filing easier, the Franchise Tax Board (FTB) recommends gathering your tax records beforehand. They also encourage Californians to take advantage of their online services, including e-filing and direct deposit for quicker refunds.
Federal Tax Relief for Disaster Areas
If you live in San Diego County, impacted by severe storms and flooding in January 2024, you qualify for extended deadlines. The IRS offers tax relief until June 17, 2024, for various federal tax returns and payments.
What Happens if You Miss the Deadline?
Missing the deadline can be costly. The penalty for late filing is significantly higher than the penalty for late payment. Even if you can't pay your full tax bill, filing a return is crucial to avoid losing your refund and facing harsher consequences like passport revocation.
Tax Relief Details
The IRS tax relief postpones deadlines that occurred between January 21 and June 17, 2024. This means affected individuals and businesses have until June 17th to file and pay taxes originally due during this period. This includes:
- Individual income tax returns (originally due April 15)
- IRA and health savings account contributions for 2023
- Estimated tax payments for 2024 (originally due April 15)
- Quarterly payroll and excise tax returns (originally due Jan 31 & April 30)
- Various business and organization return deadlines
Need More Time?
If you require an extension beyond June 17th for your federal return, you can request one electronically by April 15th. Disaster-area residents can request a paper extension between April 15th and June 17th, with an extended filing deadline of October 15th (payment remains due on June 17th).
Remember, the IRS offers assistance for those impacted by disasters. Visit their website or contact them if you need help.
Don't wait! File your taxes on time and avoid any penalties or delays.
