Humboldt County residents impacted by the recent severe storms are now eligible to claim a deduction for a disaster loss and will have more time to file their taxes.
Claiming Disaster Losses
Humboldt County taxpayers affected by the presidentially declared storm disaster may claim a tax deduction for a disaster loss when filing either an original or amended tax year 2022 tax return.
When filing their return, taxpayers should write the name of the disaster in blue or black ink at the top of their tax return to alert the Franchise Tax Board (FTB). If filing electronically, taxpayers should follow the software instructions to enter disaster information. If a taxpayer receives a late filing or payment penalty notice related to the postponement period, they should call the number on the notice to have the penalty abated.
Additional information and instructions are available in FTB Publication 1034, 2022 Disaster Loss: How to Claim a State Tax Deduction.
Those impacted by the disaster can receive free copies of their state returns to replace those lost or damaged. To do so, they should use form FTB 3516 and write the name of the disaster in blue or black ink at the top of the request.
Community members impacted by the recent earthquakes are not eligible for this tax deduction and extension, as the disaster was not presidentially declared.
To help alleviate some of the stress many have endured, the FTB and the IRS have extended the filing and payment deadlines for individuals and businesses affected by the severe storms until Monday, May 15, 2023.
This relief applies to the following categories of filers:
- Individuals whose tax returns and payments are due on April 18, 2023.
- Quarterly estimated tax payments due January 17, 2023, and April 18, 2023.
- Business entities whose tax returns and payments are due on March 15, 2023
In addition, FTB will suspend the mailing of collection notices to affected taxpayers for the next 30 days, beginning January 13, 2023.
For more information, please visit the FTB’s disaster loss webpage.