Latest News for our Clients:
FILING DEADLINE CHANGE TO MAY 1ST FOR MANY IN WASHINGTON (ALSO ESTIMATED TAX PAYMENTS)
Well, hopefully folks are having a good start to 2026 after surviving a couple of “atmospheric rivers” that turned most of Western Washington into a mud puddle (or worse). Two pieces of good news that came out of all that water is that the federal government has done two things:
*First, many Western Washington counties have been officially declared “federal disaster areas”; this means that unreimbursed casualty losses (think flooding damage) may be available as a deduction on your taxes (reducing your taxable income).
*The other item is that because of the disaster declaration, the IRS has postponed the filing deadline for individual & business tax returns that normally would be due on April 15th (or March 15th for some businesses) to May 1st. This modest delay does give taxpayers a little more time to get paperwork and documents together since they may have had to deal with flooding, landslide, or other disasters.
Note: This delay also includes the estimated tax payments that would otherwise be due on January 15th and April 15th.
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