clarification of Tax filling and payment extension for California residents affected by the severe winter storms

[smeep]

Hi, I've been researching this for over an hour and I'm still confused. 

By "taxpayers affected by these storms qualify for an extension" does that just mean "taxpayers who live in the counties mentioned in the IRS document, even if they suffered no damage"? I'm not clear if we had to have been physically damaged by the storms in some way to get the automatic extension, or if we get it by virtue of living in one of the listed counties (Orange County, in my case).

Thanks!

[ee-ea]

You get it by virtue of living in one of the listed counties.

[smeep]

Just in case anyone wants to read more about this, a Southern California newspaper covered it and @ee-ea is of course correct.

https://www.ocregister.com/2023/04/11/california-taxpayers-why-does-accountant-insist-i-file-now-ins...

Update: Sorry, I just noticed that the article is behind a pretty painful paywall, but they basically interviewed someone from the IRS and verified that everyone in California except the several listed counties get an automatic extension for both federal and state taxes this year.

[lml8094]

Thanks to be specific this extension applies to estimated 2023 payments.  But am I correct in understanding that if you owe taxes on your 2022 return you still must make this payment by April 18; however you can file later in October?

[PattiF]

No, you can pay and file both later in October. The deadline has been extended to October 16, 2023, for filing and payments including for individuals whose tax returns and payments are due on April 18, 2023. Please see this from the CA governor's office for more information.

@lml8094 

[richardk19]

Thank you for the information. I live in one of the affected CA counties and plan to file and pay my federal and state taxes (and estimated federal and state taxes) on 10/16/23.

My questions are:

1) Should I set up my estimated CA (and also federal) tax payments as one combined payment (for three quarters, April, June, and September) on October 16th? Or should I set up a separate estimated tax payment for each quarter to be paid on October 16th? (Does it matter if I make three separate estimated payments, for example, of $500 on 10/16 or can I make one $1500 payment?)

2) How would I enter the quarterly payment dates for each quarterly estimated tax payment on my 2023 taxes? Do I enter the actual payment date of 10/16/23 for quarters 1-3, or the "regular" dates of approx 4/15, 6/15, and 9/15?

Thanks a lot!

[jdo505]

I have question regarding extension file tax return.

For those CA residents in disaster storm, with automatically extension to OCT 16th, 2023.  How about IRA contribution, should we have to contribute by April 18th or we can contribute on/before OCT 16th.

Thanks very much,

[richardk19]

You have until October 16 to make your IRA contribution. See here: https://www.kiplinger.com/taxes/after-storms-irs-extends-tax-deadline-for-three-states

[jdo505]

Thanks Richard for the answer.

It helps me out to allocate $$$ until OCT 16.

R/

Jimmy.

[richardk19]

@DawnC  @PattiF 

I'm sorry to bother you but do you know the answers to my questions or can you please direct me to where I can find the answers? I have searched this forum and Google.

Or should I post my questions in a few thread?

I live in one of the affected CA counties and plan to file and pay my federal and state taxes (and estimated federal and state taxes) on 10/16/23.

My questions are:

1) Should I set up my estimated CA (and also federal) tax payments as one combined payment (for three quarters, April, June, and September) on October 16th? Or should I set up a separate estimated tax payment for each quarter to be paid on October 16th? (Does it matter if I make three separate estimated payments, for example, of $500 on 10/16 or can I make one $1500 payment?)

2) How would I enter the quarterly payment dates for each quarterly estimated tax payment on my 2023 taxes? Do I enter the actual payment date of 10/16/23 for quarters 1-3, or the "regular" dates of approx 4/15, 6/15, and 9/15?

Thanks a lot!

[mstar987]

reference: IRS: May 15 tax deadline extended to Oct. 16 for disaster area taxpayers in California, Alabama and ...

per IRS reference above, which stated...

"Among other things, this means that eligible taxpayers will also have until Oct. 16 to make 2022 contributions to their IRAs and health savings accounts."

Dear TurboTax discussion forum,

I live in California in a disaster area impacted county (Santa Clara county).  So, I tried to contribute to my TY2022 Roth-IRA through my stock brokerage TDAmeritrade by initiating a funding transfer into my Roth-IRA account.  I requested this transfer ~ 11:30pm PST on April 18, 2023.  This is before the Pacific time zone midnight deadline.  TDAmeritrade responded that I did not post my Roth-IRA funding transfer before the EST deadline and have coded the request as for current year contribution (TY2023, I presume).  Question is (1) can we still fund Roth-IRA through the extended October 16, 2023 deadline?  If so, why my stock brokerage didn't know this?  (2) is Roth-IRA funding deadline midnight EST or the tax payer's midnight PST? Request time stamp or account posting time stamp is valid? (3) if Roth-IRA funding did not apply to TY2022, do I need to withdraw from my Roth-IRA account in the funding amount to correct this situation?  Use excess contribution request form with my stock brokerage?  Thank you so much.

Michael Y.

[calibadger]

I have the same question and don't see answers either on this message board or the FTB website.

Simply this question: should estimated taxes paid on 10/16/23 use both of the estimated tax forms (with due dates of 4/18/23 and 6/15/23) with separate payments, or one of the form and one payment?

I will attempt to find an answer via the FTB "chat" function during the available hours.

[calibadger]

Here's my exchange with the FTB chat representative:

Question:

RE: Quarterly estimated payments for 4/18 and 6/15 -

Should I use the voucher for each date and write a separate check when paying prior to the 10/16 deadline, write one check and attach both vouchers or something else?

Answer:

You can do either way, you can send two separate payments for each quarter or one total payment using only one of the payment vouchers.

Due to the extensions we will apply the payments accordingly when we receive the payments.

[Shaylin1]

The information is correct.  The extended due date for LA County is also October 16th.  If the payments for estimates are made before 10/16 and after the date that the last estimated would otherwise be due, how should it be entered in the software?

[calibadger]

After my chat w/FTB rep in April I chose to retain the quarterly info in the program as if the extension didn't exist. I intend to write one check, include both estimated forms (three for IRS return) and attach a note of explanation. I only interacted with FTB, others may have contacted IRS and received a different answer.