On February 24, 2023, the Internal Revenue Service announced that disaster areas in California (and parts of Alabama and Georgia) now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments. Previously, the deadline had been postponed to May 15 for these areas. Please see our February article for more information! View Article For California taxpayers in designated disaster areas, the ... more
IRS
Update to IRS Tax Relief for California Storm Victims
The Internal Revenue Service issued another announcement that updates and expands the relief period for California storm victims to file their tax returns and to make tax payments. Please see our previous article for more information! View Article The relief period now applies to filing deadlines and tax payments that fall on or after December 27, 2022, through May 14, 2023, rather than the originally announced extension for those deadlines ... more
IRS Provides Tax Relief for California Storm Victims
On January 10, 2023 (and updated on January 11, 2023) the Internal Revenue Service announced that California storm victims now have until May 15, 2023, to file various federal individual and business tax returns, and make tax payments. On January 13, 2023, California announced conformity to the IRS extended May 15 filing and payment deadlines for individual and business return filings. Individuals and households that reside or have a business in ... more
IRS Announces Inflation Adjustments for 2023 Tax Year
Because inflation is high, many IRS inflation adjustments for 2023 will change more than they have in recent years. In the IRS Revenue Procedure 2022-38, it details these amounts. The following chart shows how these adjustments compare to amounts for 2022. Refer to these changes for your individual tax planning. In addition, the Social Security Administration announced that the Social Security wage base (the amount of earnings subject to ... more