Southern California Fire Victims To Get Some Tax Relief
Posted by: eBestAgent in NEWS, REAL ESTATE NEWS, tags: California Fires, REAL ESTATE NEWSResidents impacted by the wildfires in Los Angeles and Orange counties will get more time to pay some taxes or file tax documents.
Residents who live in any counties declared a federal disaster area — including Los Angeles, Orange, Riverside, San Diego, Santa Barbara, San Bernardino and Ventura — will be given extensions on tax returns, payments or other tax transactions due on or after Oct. 21.
Those taxpayers will automatically receive postponements until Jan. 31, 2008. The postponement includes the estimated tax payment for the fourth quarter, which is normally due on Jan. 15.
“The last thing victims of these fires need to worry about is taxes,” said state Controller and Franchise Tax Board Chairman John Chiang. “We want to give people time to focus on putting their lives back together.”
People impacted by the fires can claim a disaster loss in the current tax year, or can file an amended 2006 tax return to claim the loss in the prior year — which can result in a quick refund payment. Fire victims can also receive free copies of state tax returns to replace lost or damaged ones by completing Form FTB 3516 and printing “Southern California Wildfires 2007″ in red at the top of the request.
The state Board of Equalization has set up a Web site designed to provide answers to frequently asked questions wildfire victims may have about fees and taxes.
California Franchise Tax Board
www.ftb.ca.gov
California Board of Equalization
www.boe.ca.gov/info/disaster-relief-faq.

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