Our apologies for the frequent notifications but things are changing at a rapid clip but the California Franchise Tax Board (FTB) has just announced that it is postponing until July 15 the filing and payment deadlines for all individuals, trusts, and business entities. This is a change from their announcement of last week and a welcome improvement. The additional postponement applies to the following:
FTB Announces Coronavirus Tax Relief
We do have some important news to bring you on the filing of your state of California income tax returns and estimated tax payments – and no, unfortunately the Treasury and IRS have not provided any guidance at all as of the time of this email for what they plan. Be careful not to believe all you read on social media, etc. As soon as anything federally is officially implemented, we will let you know right away.
On Friday, The Franchise Tax Board (FTB) announced special tax relief for California taxpayers affected by the COVID-19 pandemic. “Affected taxpayers” are granted an extension to file 2019 California tax returns and make certain payments until June 15, 2020, in line with Governor Newsom’s March 12 Executive Order. This relief includes moving the various tax filing and payment deadlines that occur on March 15, 2020, through June 15, 2020, to June 15, 2020.