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.

The first step toward completing an accurate return and claiming every deduction and credit that you are entitled to is assembling critical records and documents. These include:

• Earnings statements like W-2s, 1099s and/or 1098s
• Social Security or other taxpayer ID numbers for all people listed on your return
• Any IRS letters you received in 2022 about deduction or credit amounts, adjustments made to your past tax returns, etc.
• Form 1095-A (Health Insurance Marketplace Statement), if you claim the Affordable Care Act Premium Tax Credit
• Form 1098-T (Tuition Statement), if you claim education expense credits or deductions

To avoid processing delays and potential IRS penalties, taxpayers must report all forms of potentially taxable income. In addition to wages or a salary that you receive as an employee, make sure to accurately report any income you had from:

• Business activities, including selling goods online, independent contract work, side gigs or other forms of self-employment
• Interest, dividends, gains from digital assets (cryptocurrency, non-fungible tokens, stablecoins) transactions or other investment returns
• Seasonal or other temporary or part-time work
• Prizes, awards, bonuses or gambling winnings

In addition, having your bank account and routing numbers handy will enable you to request your refund by direct deposit.