Last Updated on March 16, 2023 by EXARAccounting
If you are in California and in process of preparing your 2022 tax returns, please read on.
You may have received California Middle Class Tax Refund, which was a one-time relief payment to qualified Californians. Last week, IRS announced the California Middle Class Tax Refund was not taxable for federal income tax purposes. Therefore, you do not need to report the amount on your Federal or California 2022 individual tax returns.
Due to the recent winter storms in California, another tax relief was announced in January 2023 for certain California residents and businesses. If you are in the specified disaster area, the deadline to file and pay your taxes was extended to October 16, 2023.
*The deadline was initially extended to May 15, 2023, but was further extended to October 16, 2023 for both federal and California.
The disaster area includes Los Angeles county, Orange county, San Diego county, San Francisco county and many more. Please check the FTB website for your qualification and details. ->->-> FTB