During this COVID-19 pandemic, Californians’ priority focus should be on their health and well-being. Having extra time beyond the April 15th deadline to file your state income tax returns and to pay any taxes owed can help you do this, as the experts work to control the spread of the coronavirus.
Please note that the Internal Revenue Service (IRS) has not yet acted on extending the April 15th filing deadline for federal income tax returns. Instead, for the next 90 days, individuals can delay paying federal taxes owed, up to $1 million, interest-free and penalty-free.
Betty Yee, California State Controller and Chair of the Franchise Tax Board (FTB), recently issued a statement confirming the following:
—Individual taxpayers will have until June 15th to file their returns and pay any taxes owed.
—Partnerships and LLCs also will have until June 15th to file their returns and pay any taxes owed.
—Those who have quarterly estimated payments due on April 15th will now have until June 15th to make those payments.
—Any taxpayer filing under this special deadline relief should note the name of the state emergency (e.g., “COVID-19” or “Coronavirus”) in black ink on the top of the tax return to inform FTB that you are filing under the special extension period. The FTB also will waive interest and any late filing or late payment penalties that otherwise would apply.
For assistance, visit the FTB’s website at www.ftb.ca.gov.
“Thank you for joining all in taking extra precautions to maintain your health and safety that will help to ensure the health and safety of those around you during this pandemic,” wrote lee.
Stay informed by visiting the California Department of Public Health’s website at www.cdph.ca.gov.