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Greetings, and Happy Summertime to you!
Several things.
First, since I'll be out of the office - and out of the state! - until July 10th I won't be available to answer your questions, emails, or phone calls until then. But if you leave a message I'll respond when I return.
Second, since the biggest question I'm currently getting is about the due date for taxes, be assured that the due date for your 2022 Federal and California tax returns - including estimated taxes, happily - is indeed October 16th.
The IRS has erroneously sent out letters to some clients saying that they immediately owe the taxes due with their already-filed returns. This is not the case – these letters were sent in error. The IRS has not announced if they are going to mail letters rescinding those notices, but even if they don’t you truly have until October 16th to make those payments. Truly!
The good people in the California tax department do not seem to have sent any such notices, but hey, their computers can make mistakes, too, so watch for those as well.
If you are concerned about that deadline, send me a copy of any correspondence you have received from the IRS or CA. You and I shall attend to that when I return.
Please note, however, that this deadline relief only applies to the current 2022 taxes, so if you get a notice from the IRS or CA please check to see what tax year the notice is addressing. The last thing we want to do is ignore a tax-due notice from a prior year!
So then. I hope you and your loved ones have a smashingly good Summer, and may God bless you all!
Tom Schweickert, EA , Fellow of the National Tax Practice Institute