Aug 28, 2020 | Filing Deadline, Franchise Tax Board
The Franchise Tax Board (FTB) today announced special tax filing relief for Californians affected by wildfires. Taxpayers in governor-declared or presidentially declared disaster areas are granted an extension to file tax year 2019 California tax returns until...
Aug 24, 2020 | Casualty Gain, Casualty Loss Deduction, Federal Disaster Declaration, Insurance
As part of the Tax Cuts and Jobs Acts, casualty loss deductions were disallowed starting in 2018 unless the loss was incurred in a federally declared disaster area. Because of the Presidential Disaster Declaration made yesterday, victims of the August 2020 CA...
Aug 24, 2020 | Disaster Relief, Federal Disaster Declaration, Filing Deadline, IRS, Payroll tax
Victims of the California wildfires that began Aug. 14 now have until Dec. 15, 2020 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any area designated by the...
Aug 24, 2020 | Disaster Relief, Federal Disaster Declaration
Governor Gavin Newsom today announced that the White House has approved California’s request for a Presidential Major Disaster Declaration to bolster the state’s emergency response to wildfires burning in Northern California and support impacted residents in Lake,...
Aug 21, 2020 | Disaster Relief, EDD
The EDD announced that employers statewide directly affected by the fires and extreme weather may request up to a 60-day extension of time from the EDD to file their state payroll reports and/or deposit payroll taxes without penalty or interest. This extension may be...