Sep 29, 2020 | Disaster Relief
Gov. Newsom has made a California emergency declaration for Sonoma, Napa, and Shasta counties due to the Glass and Zogg fires burning in those counties. This declaration provides additional resources and relief to individuals impacted by these fires.
Sep 21, 2020 | Disaster Relief
IRS added Butte County to the list of California counties receiving fire relief. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in certain areas...
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...