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February 28, 2023 8:39 pm
Tax Deadline Extended, Again, for Certain Disaster Victims
The IRS has announced that disaster-area taxpayers in most of California and parts of Georgia and Alabama now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments (IR-2023-33). Earlier this year, the IRS had postponed the deadline to May 15.
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Tax Glossary
Tax attributes
When debts are cancelled in bankruptcy cases, the cancelled amount is excluded from gross income. Tax attributes are certain losses, credits, and property basis that must be reduced to the extent of the exclusion.
