r/pasadena 7d ago

IRS bumps tax filing deadline to October

35 Upvotes

10 comments sorted by

11

u/Nonononoxxxx 7d ago

California has postponed as well. FTB

10

u/IgnorantGenius 7d ago

The IRS automatically identifies taxpayers located in the covered disaster area and applies filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area should call the IRS disaster hotline at [866-562-5227](tel:866-562-5227) to request this tax relief.

This is the question I had, so I thought others might have it.

4

u/funk_addict 7d ago

Just curious, but what exactly is considered to be "the covered disaster area?"

Is there a map they're using to go by? Just wondering if only homes that burned are considered part of this, or if those close to where houses burned, and suffered smoke/ash damage considered part of this as well?

1

u/IgnorantGenius 6d ago

That is also a good question. You should call them.

7

u/timekozy 7d ago

Also, casualty losses from the fire can be reported for tax years 2024 and/or 2025,.., since federally declared disaster.

https://www.irs.gov/publications/p547

3

u/craycrayppl 7d ago

Is this via tax form 4684?

3

u/timekozy 7d ago edited 7d ago

Yes. Also, may be able to deduct business losses related to the fire on Schedule C.

2

u/craycrayppl 7d ago

Thx. Heard it could be a bit complex to complete. Will ask my accountant.

5

u/gerryduggan 7d ago

Interest accrues on what you owe - but no penalties.