Tax
Jan. 18, 2023
Rain brings water, floods and tax relief
The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in a disaster area.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
Recent “atmospheric river” storms have deluged California with torrential rains. Due to the ensuing floods and landslides, the Internal Revenue Service (IRS) recently granted disaster relief to storm victims in many counties in California – resulting in extended due dates for both tax returns as well as extensions for Section 1031 exchanges.
The relief extends tax filing and payment deadlines after Jan. 8, 2023, which means that individua...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In