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Important Update! Tax Relief for CA Storm Victims

Date: March 3, 2023

Important Update! Tax Relief for CA Storm Victims

If you are a California resident, you’ll want to be aware of this important update! The IRS has announced a tax relief program to support those who have been impacted by the storms, providing qualifying taxpayers with an extension until May 15, 2023, to file their tax returns and make tax payments. Good news – penalties for late payments and late filings will be waived for qualifying taxpayers. (1)

As your trusted accounting and tax professionals, we encourage you to take advantage of this tax relief program if you have been affected by the storms. This is an opportunity to ease some of that financial burden and stress that you may be facing. We are happy to help assist you in determining if you qualify for this tax relief program and to help you navigate the process.
At Correa, Pearson and Associates (CP&A), we are committed to helping you avoid these penalties by providing you with the guidance and support you need. We believe that knowledge is power, and we strive to ensure that our clients are fully informed of their tax obligations and potential penalties!

It’s imperative that you always have a plan in place. We are passionate about ensuring our clients not only have a plan in place, but also receive expert guidance in navigating the confusing tax code. If you feel like you may be overpaying in taxes, or you are seeking guidance, please click here to speak with one of our Tax Strategists.

References:

1. IRS Newsroom ( California Storm Victims IRS: California storm victims qualify for tax relief; April 18 deadline, other dates extended to May 15 | Internal Revenue Service )