California’s Los Angeles County has faced devastating wildfires recently, causing widespread destruction, displacement, and hardship for thousands of residents. Recognizing the tremendous impact of these events, both the IRS and California governments have stepped in to offer critical tax relief to those affected. This IRS Relief for Los Angeles is designed to ease the financial burden on individuals and businesses by extending filing and payment deadlines, allowing taxpayers to focus on recovery and rebuilding. Read on for a breakdown of what this means for you and how to take advantage of these extended deadlines.
The wildfires in Los Angeles County have been among the most severe in recent history, prompting a state of emergency declaration by Governor Gavin Newsom and a Major Disaster Declaration by President Joe Biden. These measures enable residents to access various forms of disaster relief, including extended tax filing and payment deadlines at both the state and federal levels.
This tax relief aligns with the urgency of the situation, offering LA County residents more time to manage their finances without the immediate pressure of tax obligations.
The IRS and the California Franchise Tax Board (FTB) have implemented several measures to provide relief for individuals and businesses affected by the wildfires. Here are the main details you need to know:
For businesses filing sales and use taxes, the state has extended the January 31, 2025, filing deadline to April 30, 2025.
Residents who have experienced significant property damage or loss may be eligible to claim a disaster loss deduction on their 2024 tax returns to expedite refunds.
Relief applies to individuals and businesses directly impacted by the Los Angeles wildfires, including those who either reside in or operate a business in areas covered by the Major Disaster Declaration. If you’re unsure whether you qualify, it’s a good idea to consult with a tax professional or contact the IRS and FTB directly.
Here’s what you can do right now to make the most of the IRS Relief for Los Angeles:
Assess upcoming tax obligations to see how these extensions may benefit you. Whether it’s delaying your next quarterly payment or extending your filing deadline, you now have more room to adjust.
If you’ve suffered property damage, gather receipts, insurance reports, and photos of the damage to claim disaster loss deductions. These deductions may help you qualify for a quicker refund.
A professional can help ensure you meet all extended deadlines and make the best use of available deductions.
Tax relief laws and guidelines can change. Check updates on the IRS and FTB websites to stay informed about deadlines and requirements.
If you need further assistance, here are some resources to consult:
Visit irs.gov/disaster for comprehensive guidance on federal relief measures.
Call the FTB Disaster Team at 800-852-5711 for personalized support with state tax matters.
Organizations like the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs offer free support to qualifying individuals.
This disaster has left many in Los Angeles County struggling, but these tax relief measures offer some breathing room as residents work to rebuild their lives. Make sure to take advantage of the IRS Relief for Los Angeles extended deadlines, and don’t hesitate to reach out for personalized guidance if you need it.