The IRS said Monday that Californians in 53 of the state's 56 counties will not have to pay their 2022 taxes or 2023 estimated taxes until Nov. 16.
At some point, Californians will have to pay the U.S. Treasury the taxes they owe on their 2022 income. That point has not yet arrived, however. In January, citing the winter storms that led to federal emergency and disaster declarations, the IRS postponed the due date for most Californians' 2022 returns from April 17 to May 15. Then in March, the agency pushed the deadline back to Oct. 16.
Most taxpayers have their employers withhold more from their pay than they ultimately owe in taxes, so they receive refunds the following year. That's why the delayed deadline should not have deterred most Californians from filing their returns as soon as they were able this year; otherwise, they were lending the federal government money interest-free.
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