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.
“Whether it’s more time to file your taxes or getting a deduction, this tax relief will support Californians who have been impacted by the ongoing storms battering the state,” said Governor Newsom in a news release. “California is working swiftly to get people back on their feet and help communities recover.”
Taxpayers affected by a presidentially declared disaster may claim a deduction for a disaster loss when filing either an original or amended tax year 2022 tax return.
When filing their return, taxpayers should write the name of the disaster in blue or black ink at the top of their tax return to alert FTB. If filing electronically, taxpayers should follow the software instructions to enter disaster information. If a taxpayer receives a late filing or payment penalty notice related to the postponement period, they should call the number on the notice to have the penalty abated.
Additional information and instructions are available by searching FTB Publication 1034, 2022 Disaster Loss: How to Claim a State Tax Deduction.
Disaster victims can receive free copies of their state returns to replace those lost or damaged. To do so, they should use form FTB 3516 and write the name of the disaster in blue or black ink at the top of the request.
Tax Extension
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 January 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 January 17, 2023 and April 18, 2023.
Taxpayers affected by the storms 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 January 17, 2023 and April 18, 2023.
• Business entities whose tax returns and payments are due on March 15, 2023
