On December 9, 2011, the Governor declared a state of emergency in Los Angeles County and the City of Rancho Cucamonga due to high winds.

Businesses in the affected areas are allowed a one-month extension to file or pay taxes and fees for certain tax and fee programs. To view a list of programs, see the BOE News Release at www.boe.ca.gov/news/2011/142-11-G.pdf.

Taxpayers and fee payers requesting extensions for filing, audits, billing notices, assessments, and relief from subsequent penalties must fill out Form BOE-468, Request for Extension, and/or Form BOE-735, Request For Relief from Penalty, Collection Cost Recovery Fee, and/or Interest. Taxpayers and fee payers must also include with their returns a signed statement describing the cause for the late filing, including specific information about how the windstorms impacted their ability to report the taxes timely.

Individuals and/or businesses with taxable property damaged or destroyed as a result of the windstorms may be eligible for property tax relief. For more information, go to www.boe.ca.gov/proptaxes/assessors.htm.

Employers in Los Angeles County and the city of Rancho Cucamonga who were directly affected by the severe winds may request from the EDD up to a 60-day extension of time to file state payroll reports and/or deposit state payroll taxes without penalty or interest. (CUIC §1111.5) Written request for extension must be received within 60 days of the original delinquent date of the payment or return to file/pay.

You may contact the EDD’s Taxpayer Assistance Center at (888) 745-3886 with any questions. 

At Spidell’s Federal/California Tax Update Seminar we will talk about:

• What property tax is deductible
• How the new federal Schedule D works
• How to treat the sale of gold and silver
• What happens if your client is selling stuff on e-Bay
• New laws coming this year and old laws going away

Click here to register today.