LA County Wildfire tax updates and resources
The IRS and FTB have provided tax relief for LA County wildfire victims, extending filing and payment deadlines to October 15, 2025, for taxes due between January 7 and October 15, 2025. This includes:
2024 estimated income tax (due January 15, April 15, June 16, September 15, 2025)
Quarterly payroll and excise returns (due January 31, April 30, July 31, 2025)
Individual income tax returns (due April 15, 2025)
IRA and Health Savings Account contributions
Calendar-year Partnership/S corporation returns (due March 17, 2025)
Calendar-year Corporation/Fiduciary returns (due April 15, 2025)
Tax-exempt organization returns (due May 15, 2025)
Penalties for late payroll and excise tax deposits between January 7-22, 2025, will be waived if paid by January 22, 2025.
Ventura County is not included in the disaster declaration but will receive similar relief if added. Taxpayers in LA County qualify automatically; others with records in the county should contact the IRS disaster hotline for assistance.
PROPERTY TAX RELIEF:
On 1/16 Governor Newsome announced Postponement of Property Taxes for certain zip codes
LINK HERE
Helpful tips:
Do NOT engage a Public Adjuster BEFORE getting your Insurance Settlement amount. This is because PA's take a large % of the amount they negotiate, so it’s better to contact your insurance company first, go through the process and get a damage claim. Then you can look in to PA services in order to increase the amount of compensation.
WEBSites:
IRS News Release: California wildfire victims qualify for tax relief
California News Release: California provides tax relief
Primer on how to navigate Insurance claims and Recovery process