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Category Archives: FRANCHISE TAX BOARD
California FTB News – Includes Info on Same Sex Marriages
California recognizes out-of-state same-sex marriages
On October 11, 2009, the Governor signed Senate Bill 54, which provides that a marriage between two persons who have entered into a same-sex marriage outside the State of California prior to November 5, 2008, that was valid by the laws of the jurisdiction in which the marriage was contracted, is valid in California. / more+
Military Spouses Residency Relief Act
The Military Spouses Residency Relief Act (MSRRA) was signed into law by the President on November 11, 2009. For taxable years beginning on or after January 1, 2009, a service member’s spouse is considered a nonresident for tax purposes if the servicemember and spouse have the same legal residence or domicile outside of California and the spouse is in California solely to be with the service member who is serving in compliance with military orders. / more+
Mandatory e-pay penalty update: Not assessed in 2010
When you are required to make electronic payments but pay by other means, [the FTB] can assess a penalty equal to one percent of the amount paid, unless your failure to pay electronically was for reasonable cause and not willful neglect. / more+
Luxury Auto Pilot Program
Each year, [the FTB] receive and process millions of income information records. The nonfiler program uses federal tax return information, information from other California state agencies, third-party data, and income estimates from self-employed activities to determine if a taxpayer has a filing requirement. / more+
EITC Awareness Day is January 29, 2010
The IRS in partnership with local organizations in your area will kick off of the Earned Income Tax Credit (EITC) Awareness Day event on January 29 to promote the federal tax credit. / more+
Consultants wanted: California seeks experts knowledgeable in abusive tax shelter transactions
Abusive Tax Avoidance Transactions (ATAT) cost California billions of dollars each year. In 2004, [the FTB] collected a record $1.4 billion from taxpayers participating in tax shelters during [their] Voluntary Compliance Initiative. / more+
Get ready for the filing season with e-Services
During these difficult times, it is increasingly important to work both smart and efficiently. / more+
Head of Household guidelines
Our filing season is just around the corner. Some of your clients may inquire about claiming our head of household filing status. This filing status provides a lower tax liability and a higher standard deduction than the single filing status. / more+
California’s Enterprise Zones Wage Credit
In our June 2009 issue of Tax News we asked the question, “Are you familiar with California’s Enterprise Zones?”
[The FTB] now ask, “Are you aware some taxpayers who work in an Enterprise Zone may be entitled to a credit for the wages they earned?” / more+
Small business
Misleading letter schemes target corporations and LLCs
Your business clients may receive a misleading letter to file board minutes and/or a statement of information for a fee. Because the letters look and sound official, your clients may be quick to send payment. But wait! Read the fine print, “…products or services being offered are not approved or endorsed by any government agency.” / more+
Ask the advocate
Taxpayers’ Bill of Rights Hearing
The Annual Taxpayers’ Bill of Rights Hearing was held December 3, 2009, at FTB headquarters in the Gerald H. Goldberg Auditorium. We received four proposals in advance and representatives from two organizations made presentations. We are in the process of preparing responses to the proposals we received. / more+
Inside FTB
Take a look at the changes happening here at FTB. / more+
Criminal corner
Our monthly summary of bringing tax criminals to justice and closing the tax gap one case at a time. / more+
December California News From the Franchise Tax Board
Legislative wrap-up 2009
Here is [an] annual summary of tax-related legislation enacted this session. / more+
Free backup withholding webinar
California conforms to federal backup withholding beginning January 1, 2010. / more+
Corporation tax law changes in California
Recently enacted California legislation adopted new statutes and amended existing statutes that result in major changes to how corporations are taxed in California. / more+
Find forms faster and easier with our form locator
On December 15, 2009, [the FTB] will have a new search tool on our forms webpage; it is called the Form Locator. / more+
Provisional payment plan pilot program begins December 2009
[The FTB’s] collection response and resolution section will begin to offer a provisional payment plan for personal income taxpayers. Taxpayers who qualify for this pilot program will be allowed to make payments towards their tax liability without involuntary collection action taking place, while they prepare and submit their missing valid tax returns to us. / more+
Top 10 personal income tax errors that delay return processing – 2009
Check to see where [the FTB] found the most common errors on personal income tax returns. / more+
Top 10 business entity errors that delay return processing – 2009
Check to see where [the FTB] found the most common errors on business entity returns. / more+
Small business
Will your client qualify for the new jobs credit?
Newly enacted state law, ABX3 15 (Assembly Budget Committee, Stats. 2009 Third Extraordinary Session, Ch. 10) allows a potential income tax credit of $3,000 to a qualified taxpayer for each additional full-time employee hired. / more+
Ask the advocate
Communication guidelines
Quite often [the FTB] receive questions from taxpayers and practitioners on issues relating to the interpretation of provisions of the R&TC as well as policies and procedures of [the FTB’s] department. / more+
Inside FTB
Take a look at the changes happening here at FTB. / more+
Criminal corner
[The FTB] monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. / more+
Big business
Gross receipts fees discussed at CalCPA
On October 28, [the FTB] attended the CalCPA Committee on Taxation, [the FTB’s] annual liaison meeting. [the FTB] shared legislative updates affecting [the FTB], changes to [their] auditing and collections, and new communication products available to [their] taxpayers and tax professionals. / more+
Stacie's Tax Stuff 