We are a few weeks into the stay at home order in California while we deal with COVID-19. As we continue to adjust to this new reality and stay healthy, I wanted to update you on some accommodations that have been made locally and statewide to help people during this stay-at-home order:
Income Taxes, Property Taxes, 1031 Exchanges
- 2019 tax deadline has been postponed until July 15, 2020.
- Both 1st and 2nd quarterly estimated tax deadlines have been extended until July 15, 2020.
- The Real ID deadline has been postponed until October 1, 2021.
- LA County property taxes were due April 10th however if you pay late, any late fees and penalties can be waived if you request it.
- 1031 Exchanges have been granted extensions.
Property Tax Deadlines
Statement from Keith Knox, Treasurer and Tax Collector on COVID-19 and April 10 Property Tax Deadline
“I understand that this is a very stressful time, especially for those suffering direct effects from this public health crisis, and my office is committed to helping in any way we can. Los Angeles County property owners affected by the COVID-19 virus may have late penalties cancelled if they are unable to pay their property taxes by the April 10 deadline.
We have no authority to extend the April 10 deadline, as outlined by State Law. However, beginning on April 11, the day after property taxes are due, people unable to pay on time for reasons related to COVID-19 may submit a request for penalty cancellation online. The department has set up a special team to process these requests for those who demonstrate they were affected by the outbreak.
We encourage all property owners who can pay their taxes on time to do so. This revenue helps keep the government running and providing vital services that the public relies on, especially in times like these.
Since County buildings are currently closed to the public during this emergency, there will be no in-person payments. Instead, taxpayers can pay online, via telephone or by mail. There is no cost for e-Check payments online. For online credit/debit card transactions, our card payment processor charges a 2.25 percent service fee.
Taxpayers can also visit https://ttc.lacounty.gov/, to review payment methods and several other online self-service options. Taxpayers may also call (213) 974-2111 for additional information”.
1031 Exchange Deadlines
If an investor has taken the first step of a like-kind exchange by selling the old property, and either the 45-day or the 180-day deadline falls between April 1 and July 15, the deadline has been extended to July 15.