Tuesday, October 30, 2007

IRS Defers Tax Deadlines for Taxpayers in Fire-Ravaged SoCal Counties

  • Taxable Talk on Fire Relief

  • Taxpayers in much of Southern California, including Los Angeles, San Diego and many of the counties made famous by the 1980s "Valley Girls" phenomenon have had tax deadlines extended to January 31, 2008. Deadlines include third quarter payroll tax returns (otherwise due October 31) and fourth quarter income tax estimates (deferred from January 15, 2008). A shorter deferral (until November 5) appears likely to become available for employment and excise tax deposits.

    The deferral of taxes is not surprising in view of deferrals extended to those affected by Hurricanes Katrina, Rita and Wanda in 2005. Obviously, I extend best wishes to those who have been affected by the wildfires. Less obviously, I extend best wishes and sympathies to California tax preparers, including bloggers Russ Fox and Trish McIntyre, whose tax season will be made even more condensed and hectic by the present deferrals.


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