The State of California has clarified that the extensions will apply not just to IRS filing but also state filing for those counties detailed in the last newsletter. The extension lasts until Oct 16th. It includes tax-advantaged contributions and estimated tax payment for the fourth quarter of 2022, and those in 2023. If you haven’t already made your 2022 contributions, please verify with your tax preparer. Keep in mind that the extension is only available to residents from areas designated as disaster zones by FEMA (Federal Emergency Management Agency). In California it appears to be all counties except Lassen, Modoc, and Shasta. If needed, the extension can be useful and provides those impacted more flexibility, but we still recommend that you make every effort to complete your 2022 tax preparation as soon as possible.
Edi Alvarez, CFP®
BS, BEd, MS