California provides tax relief for those affected by Los Angeles wildfires
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~ In the wake of the devastating wildfires that have ravaged Los Angeles County, California is taking action to provide relief to affected taxpayers. Governor Gavin Newsom announced today that the California Franchise Tax Board (FTB) will be offering state disaster tax relief to individuals and businesses impacted by the fires.

According to Governor Newsom, "The people in Los Angeles County have experienced unimaginable tragedy, and the state will continue to do everything possible to help these communities." This tax relief is just one way that California is working to support those affected by the wildfires.

Under this relief program, taxpayers in Los Angeles County will be granted a postponement until October 15, 2025, for filing their 2024 tax returns and making any tax payments that would have been due between January 7 and October 15, 2025. This aligns with the federal extension recently granted to California's wildfire victims.

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State Controller and FTB Chair Malia M. Cohen expressed her sympathy for those impacted by the fires, stating "My heart goes out to everyone affected - please know that you are not alone." She also emphasized her commitment to providing resources through FTB for Californians during this difficult time.

The postponement announced today includes various types of tax returns and payments, such as individual returns due on April 15, 2025, quarterly estimated tax payments due throughout the year, business entity returns due in March and April of 2025, pass-through entity elective tax payments due in March and June of 2025, and tax-exempt organization returns due in May of 2025.

This disaster relief comes after Governor Newsom declared a state of emergency earlier this week and secured a Major Disaster Declaration from President Joe Biden. These declarations make residents and businesses in affected areas eligible for tax relief.

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Taxpayers who have suffered a loss due to a presidentially declared disaster may also claim a deduction for their loss. By claiming the loss on their 2024 tax return, they may be able to receive a refund sooner from FTB.

In addition to this tax relief, Governor Newsom has also doubled the deployment of the California National Guard to aid in firefighting and public safety resources for the Los Angeles fires. He has also issued an executive order to support the state's ongoing response to the fires, providing critical flexibilities for healthcare and emergency workers, schools, and more.

For those affected by the wildfires, federal assistance is now available and can be applied for through a new website launched by the state - CA.gov/LAfires. This website aims to provide support and resources for Californians impacted by the fires.

As California continues to battle these devastating wildfires, it is clear that both state and federal governments are working together to provide relief and support for those affected. The tax relief offered by FTB is just one way that California is standing with its residents during this difficult time.

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