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January 15, 2025

Timothy J. Clancy

Principal, Tax

Atlanta, GA

678-510-2804

[email protected]

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IRS Extends Tax Relief to Victims of California Wildfire

Tax Deadlines Extended for Los Angeles Wildfire Victims

The Internal Revenue Service (IRS) announced on Jan. 10, 2025, that it would provide substantial tax relief to individuals and businesses impacted by the recent devastating wildfires and straight-line winds in California. This relief includes an extended deadline of Oct. 15, 2025, for filing various tax returns and making payments, applicable to both individuals and businesses. This relief is available to taxpayers residing in areas designated by the Federal Emergency Management Agency (FEMA) as disaster zones. Additionally, individuals and households with residences or businesses located within Los Angeles County are eligible for these tax relief measures.

Relief Measures for Affected Taxpayers

The extended Oct. 15, 2025 deadline will now apply to a range of tax obligations, including individual income tax returns and payments that would have originally been due on April 15, 2025, and 2024 contributions to IRAs and health savings accounts for eligible taxpayers. It also applies to 2024 quarterly estimated income tax payments normally due on Jan. 15, April 15, June 15 and Sept. 15, 2025. Businesses also now have extended deadlines for quarterly payroll and excise tax returns, calendar-year partnership and S-corporation returns as well as calendar-year corporation, fiduciary and tax-exempt organization returns. Any penalties for missed payroll and excise tax deposits due between Jan. 7 and Jan. 22, 2025, will be waived as long as deposits are made by Jan. 22, 2025.

Actionable Next Steps for Taxpayers

Affected taxpayers should verify their eligibility for relief by checking the IRS disaster relief webpage for an updated list of affected counties to ensure your address is listed in a FEMA-declared disaster area. You should also seek the help of your tax advisor to remain informed on additional tax relief initiatives and updates. For more information, contact your Windham Brannon advisor today, or reach out to Tim Clancy.