Kevin M. Henry, CPA

11/05/2023

Just a reminder about the extended due date for Californians affected by the fires and storms is coming up on Nov 16th 2023. We also recommend Californians sign up online at www.FTB.ca.gov to access their personal CA tax account.

Personal and Business Income Taxes, Residents, Non-residents, State of California

01/14/2023

Californians impacted by winter storms are now eligible to claim a deduction for a disaster loss and will have more time to file their taxes as the FTB has extended the filing and payment deadlines for individuals and businesses in California until May 15, 2023.

This relief applies to deadlines falling on or after Jan. 8, 2023, and before May 15, 2023, including the 2022 individual income tax returns due on April 18 and the quarterly estimated tax payments, typically due on Jan.17, 2023, and April 18, 2023.

The IRS earlier this week announced tax relief for Californians affected by the winter storms. Taxpayers affected qualify for an extension to May 15, 2023, to file individual and business tax returns and make certain tax payments. This includes:
• Individuals whose tax returns and payments are due on April 18, 2023.
• Quarterly estimated tax payments due Jan.17, 2023, and April 18, 2023.
• Business entities whose tax returns and payments are due on March 15, 2023.
Find more details online:

IR-2023-03, January 10, 2023 — California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

10/03/2022

CA AB 1249 was approved and signed into law by Gov Newsome. Until January 1, 2028, this bill would provide an exclusion from gross income for any qualified taxpayer, as defined, for amounts received for costs and losses associated with one or more specified fires from a settlement, as provided. This bill would authorize the refund of overpayments of tax as a result of the above-described exclusion, in prior tax years, payable out of the Tax Relief and Refund Account.

03/30/2020

COVID-19 Update:
The contribution deadline for IRAs is extended to July 15th!!

Here is a link to some great information from the Yuba-Sutter Chamber of Commerce:

We are a nonprofit membership organization whose members are local businesses invested in developing their business and its people, growing our economy, and strengthening our community. We work with our members to invest in a broad range of initiatives that support Yuba and Sutter County being the b...

03/22/2020

CA FTB: Extensions to file and pay
Because of COVID-19, various tax file and pay deadlines moved to July 15, 2020.

Includes: Personal, Partnership, LLC, Estates & Trusts, C-Corps and S-Corps.

03/22/2020

IR-2020-58, March 21, 2020
WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.

The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.