It's critical for San Diego recruiters to keep up with changes that affect the community's employers and job seekers. A lot of you may be impacted by some important news regarding tax filing deadlines, especially in light of the devastating storms that devastated our region in January.
The California Governor's Office of Emergency Services, the California Franchise Tax Board, and the Internal Revenue Service (IRS) have announced an extension for tax filings and payments for individuals and businesses in San Diego County. This announcement was made in response to a directive from Governor Gavin Newsom. Following the Presidential Major Disaster Declaration in reaction to the storms in January, this decision was made.
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Key Information on the Tax Deadline Extension
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New Deadline: June 17, 2024 is the new date by which you must file and pay your taxes. A number of tax liabilities that were initially due between January 21, 2024, and June 17, 2024 are covered by this extension.
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Who Does It Affect? Included in this extension are:
- The initial deadline for individual tax filings and payments was April 15, 2024.
- Quarterly estimated tax payments due on April 15, 2024.
- Companies whose taxes are typically payable on March 15 and April 15.
- Due on March 15, 2024, are the voluntary tax payments for pass-through entities (PTEs).
- The regular due date for tax-exempt organizations is May 15, 2024.
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Extra Points to Think About: You should speak with the IRS or the FTB about penalty abatement if you have received a notification of a late filing or payment penalty for the previously indicated period.
What This Signifies for You
It is crucial for job seekers to comprehend these adjustments since they provide them more time to manage their finances while looking for new chances. This extension provides employers—especially small business owners—with much-needed breathing room to stabilize operations free from the immediate stress of approaching tax deadlines.
Making Advanced Plans
It is advised to speak with a tax expert when the new deadline draws near in order to make sure that all forms are completed accurately and quickly. This is also a good opportunity to evaluate your financial situation and decide on your future work and company expansion plans.
Resources Accessible
Please visit the websites of the California Franchise Tax Board and the IRS disaster relief page for more comprehensive information. Both platforms provide extensive information about qualifying, further extensions, and instructions on how to submit an application for relief.
In summary, even if the deadline has been extended, effective financial management and tax planning will be essential to surviving this time. As always, I'm available to help with any questions or requests you may have during this time regarding employment.
