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IRS relief, victims of California wildfires and high winds

IRS relief, California wildfires and high winds

The IRS on August 6, 2018, issued a release announcing certain relief for victims of wildfires and high winds that began July 23, 2018, in parts of California.

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According to the IRS release, taxpayers affected by the disaster and who reside or have a business in Shasta County, California, may qualify for tax relief. 

The IRS is authorized to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. The IRS release provides as an example, taxpayers with certain deadlines falling on or after July 23, 2018 and before November 30, 2018, are granted additional time to file through November 30, 2018. This includes taxpayers who had a valid extension to file their 2017 return due to expire on October 15, 2018; taxpayers with quarterly estimated income tax payments due on September 17, 2018; and taxpayers with quarterly payroll and excise tax returns normally due on July 31, 2018, and October 31, 2018. The relief may also apply for tax-exempt organizations that operate on a calendar-year basis and had an automatic extension scheduled to expire on November 15, 2018.

If an affected taxpayer receives a late-filing or late-payment penalty notice from the IRS that has an original or extended filing, payment or deposit due date that falls within the postponement period, the taxpayer is directed to call the IRS at the telephone number that appears on the IRS notice to have the penalty abated.

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