Galligan, Thompson & Flocas, LLP

March 20, 2020 Galligan, Thompson & Flocas is currently under a shelter in place order until April 7, 2020. Thus, our offices are closed, but we will be doing our best to respond to your emails due to the issues created by the Coronavirus, and the rapidly changing laws. Regarding your 2019 tax filings, the IRS has moved Tax Day from April 15 to July 15. All taxpayers and business will have an additional 3 months to file and make payments without interest or penalties. The ...state of California is giving an automatic 3-month extension also until July 15. This means that if you owe taxes for 2019 you don’t have to pay them until July 15, 2020. This means that if you owe 2020 estimated taxes you don’t have to pay them until July 15, 2020. If your tax liability might be over $1,000,000 then there might be a requirement for an April 15, 2020 tax payment. We are monitoring this on a daily basis and will be prepared to help when we expect to return on April 7, 2020. Please stay healthy. Galligan, Thompson & Flocas, LLP

Hi All, We have been directed by San Mateo county to shelter in place until April 7 due to the coronavirus outbreak. This means our firm required to stop working and will be out of the office until April 7 for the time being, and hope to resume work thereafter. The state has extended the tax filing deadline and payments to June 15, and it appears likely the IRS will follow suit, so we should have plenty of time to file your taxes once we are allowed to go back to work. Please stay safe and thank you for your understanding.

Kiddie Tax Changes

Penalty-free Retirement Plan

There are an increasing number of scam calls from fraudulent callers pretending to be from the Social Security Administration. The New York Times has a helpful article to help keep you informed of the situation so you can protect yourself against these scam callers. https://www.nytimes.com//scam-calls-social-security-irs.ht

Sales and Use Tax Nexus