The IRS has once again extended the tax filing and payment deadlines in most parts of California due to destruction caused by landslides, mudslides, and severe storms. Now those Californians have until October 16th to file, as opposed to the previously announced May 15th date.

The IRS has extended the fourth quarter 2022 estimated tax payment deadline to October 16th. The 2023 estimated tax payments due on April 18th, June 15th, and September 15th, as well as the quarterly payroll and excise tax returns due on January 31st, April 30th, and July 31st, have also been delayed until October 16th. No contact or extension paperwork is necessary to take advantage of the extended time. If taxpayers receive penalty notifications within the postponed period, they should contact the number provided for the penalty to be waived.

Your tax filing status may affect your tax rate, standard deduction amount, eligibility for tax credits and other factors influencing the amount of tax you owe. If you qualify for more than one filing status, it is important to review your options to make sure you do not overpay in tax.

For example, qualifying single taxpayers may file under Head of Household (HoH) status. Taxpayers whose spouses passed away in 2020 or 2021 may be eligible for Qualifying Surviving Spouse (QSS). Either HoH or QSS status may result in significantly lower tax than Single filer status.

While most married couples benefit from filing jointly, Married Filing Separately (MFS) status may result in lower tax in some circumstances. And as a reminder, if you got married in 2022 or finalized a divorce or legal separation, you will generally need to use a different filing status than you used for 2021.

A tax professional can help you determine which status options you qualify for, and which of those will yield the lowest tax bill.