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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
Market discount
The difference between face value of a bond and lower market price, attributable to rising interest rates. On a sale, gain on the bond is generally taxed as ordinary income to the extent of the discount.
