California Extends Deadline on Several Tax Matters

In addition to previously extending the tax return deadline, California has announced several other key tax matters that will have extended time due to the coronavirus.   Claim for Refund Generally, a taxpayer must file a claim for refund within the later of four years from the date the return was filed or one year […]

Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

The largest economic bailout in U.S. history contains several tax provisions.  The recovery rebates are well known, but here are some of the other important tax items: Recovery Rebates – Click here for chart of Recovery Rebates The 10% early withdrawal penalty for retirement distributions is waived for people diagnosed with coronavirus, who have a […]

California Tax Deadline Extended in Line with IRS

The California tax deadline has been extended from April 15 to July 15 for all individuals and businesses regarding: 2019 tax returns and payments 2020 1st and 2nd quarter estimated tax payments 2020 LLC taxes and fees However, the Franchise Tax Board is still processing returns if you would like to file to get a […]

IRS Initiatives to Assist with Coronavirus Crisis

Amid the Coronavirus crisis, the IRS has issued a set of initiatives to help taxpayers.  They range from very helpful to nominal, but the IRS has stated there is more guidance and measures coming soon. Here are the highlights: Installment Agreements Payments between April 1 to July 15 are suspended, and no agreements will be […]

Knowing the Signs of a Tax Phone Scam

Due to the Coronavirus, this year we have a longer tax season and more people are home to answer their phones.  This means there could be an uptick in potential tax phone scams.  It is important to know the signs of a scam. The IRS will never: Call to demand immediate payment Ask payment to […]

Hone Maxwell LLP – Irvine Office

We are excited to announce that as of the beginning of 2020 we have now opened an office in Irvine.  This will allow Hone Maxwell LLP to service clients in Orange County and the Los Angeles area.  During the past few years our presence in the region has grown, especially within the international and Chinese […]

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