California residents do not have to file their 2022 tax return until October 16th of 2023 because the IRS POSTPONED the filing date until then because of the flooding, landslides, etc.
Scenario 1A
• Without an extension filed, California resident files their 1040 on June 15th of 2023.
• California resident files a Form 1040X on May 15th of 2026.
Result: IRS rejects claim because lookback period ends on April 15th of 2026
Scenario 1B
• With an extension filed, California resident files their 1040 on June 15th of 2023
• California resident files an amended return on May 15th of 2026.
Result: IRS accepts claim because lookback period ends on June 15th of 2026.
Moral of the story: even though the IRS postponed the filing date to October 16th of 2023, if the client is going to file after April 15th, then file an extension.
Scenario 2A
• Without an extension filed, California resident files a form 1040 on March 15th of 2023
• California resident on May 15th of 2023 finds out that they failed to make an election or discover an error on their originally filed tax return.
Result: File Form 1040X.
Scenario 2B
• With an extension filed, California resident files a form 1040 on March 15th of 2023
• California resident on May 15th of 2023 finds out that they failed to make an election or discover an error on their originally filed tax return.
Result: File Superseding Return
Moral of the story: File an extension for everyone
Tom Talks Taxes - April 7, 2023
IRS Disaster Relief Postponement … Would Filing an Extension Be Beneficial? https://www.camico.com/blog/camico-policyholder-alert-irs-disaster-relief-postponement/
Summary of the Article
California residents do not have to file their 2022 tax return until October 16th of 2023 because the IRS POSTPONED the filing date until then because of the flooding, landslides, etc.
Scenario 1A
• Without an extension filed, California resident files their 1040 on June 15th of 2023.
• California resident files a Form 1040X on May 15th of 2026.
Result: IRS rejects claim because lookback period ends on April 15th of 2026
Scenario 1B
• With an extension filed, California resident files their 1040 on June 15th of 2023
• California resident files an amended return on May 15th of 2026.
Result: IRS accepts claim because lookback period ends on June 15th of 2026.
Moral of the story: even though the IRS postponed the filing date to October 16th of 2023, if the client is going to file after April 15th, then file an extension.
Scenario 2A
• Without an extension filed, California resident files a form 1040 on March 15th of 2023
• California resident on May 15th of 2023 finds out that they failed to make an election or discover an error on their originally filed tax return.
Result: File Form 1040X.
Scenario 2B
• With an extension filed, California resident files a form 1040 on March 15th of 2023
• California resident on May 15th of 2023 finds out that they failed to make an election or discover an error on their originally filed tax return.
Result: File Superseding Return
Moral of the story: File an extension for everyone