The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2020, and the lease inclusion amounts for business vehicles first leased in 2020. The limits and amount...
The IRS has addressed various myths regarding tax refunds, and reminded taxpayers that there is no secret way to find out when a refund will be issued. The IRS also commented on processing delays for ...
Treasury and the Small Business Administration (SBA) announced on July 6 the public release of data regarding specific loans issued under the Paycheck Protection Program (PPP)."The PPP is providing mu...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) ( P.L. 116-136) waives required minimum distributions (RMDs) during 2020 for IRAs and retirement plans, including beneficiaries ...
The IRS has started sending letters to taxpayers who have experienced delays in the processing of their Form 7200, Advance Payment of Employer Credits Due To COVID-19.If the IRS rejected Form 720...
The IRS has further postponed, until December 31, 2020, the deadline for performing any community health needs assessment (CHNA) requirements due to be completed on or after April 1, 2020, and before ...
The IRS announced that additional retail partners are accepting cash payments for federal taxes. This option may be used by individuals and business taxpayers. The IRS’s continuing partnership w...
According to a report released by the Government Accountability Office (GAO), various tax compliance challenges confront "platform workers" who often lack access to information about their e...
National Taxpayer Advocate (NTA) Erin M. Collins released an objectives report to Congress on June 29. The report identifies taxpayer challenges arising from the COVID-19 pandemic, the Coron...
A taxpayer’s protest against a California sales and use tax assessment was denied because it failed to establish a basis for relief of taxes, interest, and penalties. In this matter, the Califor...
COVID-19 Tax Relief and FCC Tax Services
Due to the Marin County "shelter in place" order currently in effect through June 30th, our office will be closed until then and partners and staff will be working remotely. Whether or not our office closure continues after June 30thwill depend on future local, state, and Federal government orders.
COVID-19 Tax Relief Guidance
Federal (Internal Revenue Service):
Tax Year 2019
Extension or Return - filing delayed until July 15.
Payment of Tax - delayed until July 15
Tax Year 2020
Payment of Estimated Tax -
1st and 2nd quarters delayed until July 15.
3rd, and 4th quarters NOT delayed.
California (Franchise Tax Board):
Tax Year 2019
Extension - still automatic.
Return - filing delayed until July 15.
Payment of Tax - delayed until July 15.
Tax Year 2020
Payment of Estimated Tax -
1st and 2nd quarter delayed until July 15.
3rd and 4th quarter NOT delayed.
States Other than California:
Tax Years 2019 and 2020
We are monitoring other state tax relief guidance which is released continuously and updated on the AICPA website. Some states have conformed fully or partially to Federal tax relief. Other states have not conformed (i.e. April 15 and June 15 due dates still apply).
FCC Tax Services
We are taking advantage of Federal, California, and other states COVID-19 tax relief which benefits you financially and accommodates our ability to serve you. During the period from now until July 15, we will be preparing 2019 tax returns and extensions as well as 2020 tax projections. Due dates for Federal, California, and other states tax filing and payment instructions will be based on this tax relief.
2019 Returns or Extensions:
For clients who provided "complete" information by our submission deadline, we will make a best efforts to complete your 2019 returns for e-filing by July 15. **
For clients who provided "incomplete" or no information by our submission deadline, we will make a best efforts to complete your 2019 extensions for e-filing by July 15. **
** Our engagement letter states the information submission deadline (read page 1).
2019 Tax Information:
Please provide electronic copies of tax documents, organizers and financials (reports or files – QuickBooks, Quicken) through our secure portal. Click on the Secure Link in the email signature of your primary FCC professional contact to upload information.
Due to work and personal life disruptions from the Marin County “shelter in place” and California “shelter at home” orders, our resources and responsiveness have been impacted. Please be patient with the timing of our communication and delivery of our services.
Stay healthy. Be safe. Follow local, state and Federal orders to limit your and others exposure to COVID-19.
Welcome and thank you for visiting our Website. In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service leads us to provide the highest quality professional service and guidance.
As you browse through our Website, you will see that not only have we highlighted background information on our firm and the services we provide, but have also included useful resources such as informative articles (in our Newsletter section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external Websites that we felt would be of interest to our clients and visitors (in our Internet Links section).
While browsing through our Website, please feel free to contact us with any questions or comments you may have - we'd love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.
Daniel E. Hale, CPA