DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

More time to file, pay for California taxpayers affected by the COVID-19 pandemic

 “During this public health emergency, every Californian should be free to focus on their health and wellbeing,” said State Controller Betty T. Yee, who serves as chair of FTB. “Having extra time to file their taxes helps allows people to do this, as the experts work to control the spread of coronavirus.”

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. This includes:

  • Partnerships and LLCs who are taxed as partnerships whose tax returns are due on March 15 now have a 90-day extension to file and pay by June 15.
  • Individual filers whose tax returns are due on April 15 now have a 60-day extension to file and pay by June 15.
  • Quarterly estimated tax payments due on April 15 now have a 60-day extension to pay by June 15.

The FTB’s June 15 extended due date may be pushed back even further if the Internal Revenue Service grants a longer relief period.

Taxpayers claiming the special COVID-19 relief should write the name of the state of emergency (for example, COVID-19) in black ink at the top of the tax return to alert FTB of the special extension period. If taxpayers are e-filing, they should follow the software instructions to enter disaster information.

The FTB will also waive interest and any late filing or late payment penalties that would otherwise apply.

 As always, feel free to pass this Tip along to friends, and reach out if you need help with your personal tax and finance situation. 

DiSabatino CPA
Michael DiSabatino
651 Via Alondra Suite 715
Camarillo, CA 93012
Phone: 805-389-7300
This publication provides summary information regarding the subject matter at time of publishing. Please call with any questions on how this information may impact your situation. This material may not be published, rewritten or redistributed without permission, except as noted here. All rights reserved.
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Can't file your 2017 tax return? Here's what to do

If you need more time to file your 2017 income tax return, you can get an extension. Learn more about what you have to do.

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Extensions available for 2017 tax returns

Extensions available for 2017 tax returns

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Extension for Form 1095 Reporting

Extension for Form 1095 Reporting
What everyone needs to know

For 2015 tax returns, everyone employed by a company with 50 or more employees will receive a new Form 1095. This form is in addition to the Form 1095’s received by other taxpayers using the Marketplace to purchase their health insurance. You need this form to file your taxes as it provides the necessary proof that you have adequate health insurance for the year.

A recent announcement by the IRS provides a delay for the issuing of this form due to complications in creating the proper form by employers and insurers.

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What are the Penalties for not paying taxes on April 15th?

The real cost of not paying your taxes until October 15!

This time of year we often see taxpayer's looking to extend the time to pay their taxes due and asking, "what are the penalties if I do not pay my taxes due by April 15."   Here I will address how to estimate the cost of not paying timely - the penalties assessed by the IRS.

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December 2014 DiSabatino CPA Newsletter

news-headerIn this issue:

  • Last-Minute Tax Moves - There's still time
  • Remember the Nanny Tax - Do you have a household employee?
  • Word of the Year - Are you current with the New English?
  • The Extension that Never Ends

The Month of December:

    Take final year-end actions:
    • Gifts
    • Capital gains/losses
    • Charitable giving
    • Dividend income
    December 24th: Last day of Chanukah
    December 25th: Christmas Day
    December 26th: Kwanzaa Begins
    January 15th: 4th Quarter Estimated Payments Due

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Final Deadline for 2013 Personal Tax Filing!

Final Deadline for 2013 Personal Tax Filing!

October 15, 2014 is fast approaching, therefore the deadline to file your personal tax returns that were placed on extension is coming!

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In the Military? Special Tax Benefits May Apply

In the Military? Special Tax Benefits May Apply

There are special tax benefits to members of the U.S. Armed Forces. If you or someone you know is in the military, prior to filing a tax return it makes sense to review your situation. Outlined here are some of the more common.

Combat Pay Income Exclusion.

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When Filing a Tax Extension May Make Sense

While taxes owed are always due on or before the filing date of April 15th, taxpayers have the option of filing a tax extension that effectively moves their filing date to October 15th. Is this ever a good thing to do? Sometimes the answer is yes.

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