Individual Filings, Single Member LLC, C-Corporation Filings Due April 18, 2023
April 10th, 2023
Individual Filings (1040), Single Member LLC (1040), and C-Corporation Filings (1120) are due April 18th unless you request an extension before the due date or you qualify for an automatic extension. For those of you still working on filing taxes, if you reside outside of California, Alabama, or Georgia please reach out to us to request an extension of time to file until October 16th, 2023. If you reside in California in the counties of Imperial, Kern, Lassen, Plumas, Shasta, and Sierra you will also need to file an extension of time to file. If you reside in Alabama or Georgia please check if your county will require a filing extension.
Due to the severe storm damages throughout CA, for those affected by the flooding, most counties are covered by a federal emergency declaration granting automatic additional time to file and pay taxes. Please read the details of these provisions below.
IRS extends tax deadlines for disaster area taxpayers in California, Alabama, and Georgia
The Internal Revenue Service (IRS) has indicated that taxpayers living and/or conducting their business in any of the affected counties covered by a federal emergency declaration in the State of California will have additional time to file both federal individual and business returns, as well as have more time to pay their tax bill. Over fifty California counties are included in this group, which include Los Angeles and San Diego Counties. For a full list of affected areas, you can refer to the IRS webpage at the following link.
CA counties affected by severe winter storms
Eligible taxpayers have an automatic extension to file and time to pay until October 16th, 2023. The IRS is granting this with no extra steps required. There’s no need to contact the agency to use this new deadline instead of the April 18th, 2023 date. If you’re an affected taxpayer and receive any late filing or late payment penalty notices form the IRS for choosing the new deadline, the best recourse will be to call the number on the mailed IRS letter in order to have the penalty abated.
The CA Franchise Tax Board (FTB) has conformed to the IRS change. As of today, the FTB deadline to file and pay has also been extended to October 16th, 2023. We will inform you if this changes.
Additional Important Facts
- The Fourth Quarterly Estimated Tax payment usually due on January 17th, 2023, can be skipped and added with the 2022 return at the time of filing by October 16th, 2023.
- The new updated October 16th deadline also applies for 2022 contributions for IRAs and Health Savings Accounts.
- Several business returns such as S-Corporations (1120-S) and Partnership (1165) filings due on March 15th or will also extend automatically to the October 16th deadline.
- Quarterly payroll and excise tax returns are also part of the new October 16th deadline compared to their January 31st, 2023 and April 30th, 2023 original deadlines. Penalties on payroll and excise tax deposits that are due between January 8 and January 23rd, 2023, qualify to be abated if tax deposits are made by January 23rd, 2023.
Upcoming Deadline Details
Individual Tax Returns Tax Filing Deadline is April 18th
Individual (1040) tax returns are due April 18th. If you request an extension, your 6-month extension to file extends your deadline to file to October 15th. Remember it is an extension to file, not an extension to pay your taxes. If there was a balance due on the return, interest will be assessed in addition to the tax. *You may have an automatic extension of time to file and pay if you qualify under the federal emergency declaration.
California Single Member LLCs Tax Filing Deadline is April 18th
Single Member LLCs (Form 568) not owned by a pass-through entity are due on April 18th. The minimum $800 CA Franchise tax fee is due by April 18th even if you request an extension to file until October 15th. *You may have an automatic extension of time to file and pay if you qualify under the federal emergency declaration.
C-Corporation Tax Filing Deadline is April 18th
C-corporation (1120) tax returns are due April 18th. Your 6-month extension to file extends your deadline to October 15th. *You may have an automatic extension of time to file and pay if you qualify under the federal emergency declaration.
PLEASE CALL NOW TO REQUEST AN EXTENSION AND TO INITIATE YOUR TAX FILINGS.
We look forward to working with you!