California FTB Announce Special Income Tax Relief for Taxpayers Affected by October Wildfires

The California Franchise Tax Board (FTB) Oct. 14 announced special individual income and corporate income tax relief for taxpayers affected by the governor-declared state of emergency for the Saddleridge, Sandalwood, Eagle, Reche, and Wolf wildfires. Taxpayers are granted an extension to file 2018 tax returns until Nov. 15. The relief applies to affected individuals and businesses in Los Angeles and Riverside counties that have an extended tax filing deadline of Oct. 15 for tax year 2018 state tax returns. The FTB will cancel interest and any late filing or late payment penalties that would otherwise apply. Taxpayers filing their returns ...