The Realm Tax team wants to extend our very best wishes and hope that all of our clients, their families and loved ones are safe. We have heard stories, seen pictures and videos and read about the devastation from friends, family and clients. Unfortunately we have experienced this type of tragedy first hand during 9/11, COVID and other disasters BUT the one constant is that LA, like New York City and the US will come back from this. We all need to help our neighbors and Realm Tax will do that.

It starts with this update so please read below and check our website which has other resources and tips and will be updated periodically:

The IRS and FTB have announced disaster-related tax relief for LA County wildfire victims. Taxpayers in this area now have until October 15, 2025, to meet filing AND payment deadlines originally set between January 7, 2025, and October 15, 2025.

While this is welcome relief to those who have been displaced, we do recommend those clients who were not affected to please send in your documents so we can file by the March 17 and April 15 deadlines or shortly thereafter. If you live in LA County, you do not have to make payments for taxes due until the October 15 deadline even though you have filed your return.

This extension applies to the following:

2024 estimated income tax (due January 15, April 15, June 16, September 15, 2025)
Quarterly payroll and excise returns (due January 31, April 30, July 31, 2025)
Individual income tax returns (due April 15, 2025)
IRA and Health Savings Account contributions
Calendar-year Partnership/S corporation returns (due March 17, 2025)
Calendar-year Corporation/Fiduciary returns (due April 15, 2025)
Tax-exempt organization returns (due May 15, 2025)

Penalties for late payroll and excise tax deposits between January 7-22, 2025, will be waived if paid by January 22, 2025.

Ventura County is not included in the disaster declaration but will receive similar relief if added.

ALL Taxpayers with a LA County address automatically qualify. Those outside the county but with records located in the county must contact the IRS disaster hotline at (866) 562-5227 for relief.

For further details, refer to the IRS and California news releases on wildfire tax relief. Links HERE.