The IRS and California Governor Gavin Newsom announced that individuals and businesses residing in specific CA counties (one of them being Santa Clara County which the taxpayer resides) impacted by the 2022-23 winter storms now have until November 16, 2023, to file various 2022 individual and business tax returns and make tax payments.The November 16, 2023, deadline also applies to the first through third quarter estimated tax payments, normally due April 17, 2023, June 15, 2023 and September 15, 2023. Therefore there should be no underpayment penalty associated with the first through third quarter estimated tax payments as these estimated tax payments were automatically deferred under this disaster tax relief.The underpayment penalty shown on Form 2210 relates to not having paid in a sufficient estimated tax payment at the first through third quarters, which based on the explanation above is being waived by the IRS.
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