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Tax Alerts
October 22, 2020
Tax Briefing(s)

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 has brought us to the Internet as we endeavor to continue to provide the highest quality professional service and guidance.

September 28, 2020

We are currently experiencing voice issues with our office's ATT upgrade. 

Our office phone only receives ATT carrier calls, all other carrier calls will not be received.

Therefore for non-ATT callers, reach us via email or through info@tongfongcpas.com.

Apologies for the inconvenience and we expect this issue to be cleared by the end of this week.

June 1, 2020

Our office is open but we are not accepting face to face meets at this time

Feel free to communicate with our office through other means

Our office is receiving mail, 3rd party delivery services, and clients may drop off packages at our socially distanced table in our reception. 

We do expect masks to be worn by all visitors to our office.

Good health to all

Update April 28, 2020:

Extended shelter in place (SIP) for six San Francisco bay area counties:

The new SIP for six Bay Area counties was officially released Wednesday, revealing that some coronavirus restrictions will be eased.

The new order goes into effect May 4 and lasts through May 31 for everyone living or working in the counties of Alameda, Contra Costa, Marin, San Francisco, San Mateo, and Santa Clara as well as the City of Berkeley.

 For CA  sales and use tax,, first quarter 2020:  the revised 1Q-20 sales tax due dates are extended to July 31, 2020.:

 

April 2020

Program

Filing Period

Original Due Date

Extension Due Date

Sales and Use Tax

First Quarter 2020 Return

April 30, 2020

July 31, 2020

Sales and Use Tax

March 2020 tax due

April 30, 2020

July 31, 2020

Use Tax

Annual 2019 Return

April 15, 2020

July 15, 2020

April 2, 2020 update:

California COVID-19 Sales Tax Extension

  • California taxpayers can claim a sales tax extension, but must go online to claim it
  • The extension allows sales tax filers to file and pay all taxes due between March 15, 2020 and June 15, 2020 by June 15, 2020 and receive no penalty
  • Taxpayers can claim the extension even if the return they are filing is late (as long as it is no later than June 15, 2020)

For more CA sales tax extension detail and info navigate to our California Covid 19 newletter

March 31, 2020 CARES Act update summary can be located on our Info Center page

March 24, 2020 Tax update:

Dear 2019 tax return clients:

On March 20, Treasury Secretary Steven Mnuchin announced by

tweet that the April 15 deadline for filing tax returns will be

postponed to July 15: "At @realDonaldTrump’s direction, we are

moving Tax Day from April 15 to July 15. All taxpayers and

businesses will have this additional time to file and make

payments without interest or penalties."

The IRS published Notice 2020-18 to

memorialize the extension. Importantly, the Notice not only

extends the filing date but also removes the cap on the amount of

tax payment that can be postponed (earlier guidance provided a

$1 million cap on individual income tax payments and a $10

million cap on tax payments for corporate taxpayers). There is

now no limitation on the amount of payment that may be

postponed.

March 24, 2020 updates:

2019 income tax extensions originally due April 15, 2020, is now July 15, 2020, in agreement with the extended 2019 income tax due date.

2020 #1  Estimated tax payments due on April 15, 2020 (i.e., for the 2020 tax year) are also automatically extended to July 15, 2020.

California conforms to extended federal deadlines.

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.