IRS announces disaster relief for California wildfire victims

On Jan. 10, 2025, the IRS announced disaster relief for individuals and businesses affected by wildfires in California, which currently includes those residing or located in Los Angeles County.  

Taxpayers in affected areas will now have until Oct. 15, 2025 to make payments and file various federal, individual and business tax returns with deadlines normally occurring between Jan. 7 through Oct. 15, 2025. As per the IRS website, this includes, but is not limited to:

• Individual income tax returns and payments normally due on April 15, 2025
• 2024 contributions to individual retirement accounts and health savings accounts for eligible taxpayers
• 2024 quarterly estimated income tax payments normally due on Jan. 15, 2025, and estimated tax payments normally due on April 15, June 16 and Sept. 15, 2025
• Quarterly payroll and excise tax returns normally due on Jan. 31, April 30 and July 31, 2025
• Calendar-year partnership and S corporation returns normally due on March 17, 2025
• Calendar-year corporation and fiduciary returns and payments normally due on April 15, 2025
• Calendar-year tax-exempt organization returns normally due on May 15, 2025

Please reach out to your Baker Tilly advisor if you have any questions regarding how this impacts your tax situation.

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.