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Category Archives: CALIFORNIA

November FTB News – Includes how to Handle a Foreclosed Home for Tax Purposes

540X Easy Reply Amended Return Pilot Program

[The FTB] will soon begin a pilot program giving certain taxpayers the option of quickly concluding an audit when first contacted by [the FTB], if the taxpayer agrees with the proposed adjustments to their return. / more+

Useful Information Found on MyFTB Account
MyFTB Account is a resource that’s available for your clients to access useful tax information 24/7. / more+

Documents, Second Mortgages, Tax Reporting – How to Handle a Foreclosed Home for Tax Purposes

In [the] July 2009, Foreclosure and Short Sales, and October 2009, Business Foreclosures or Short Sales, issues of Tax News, [the FTB] addressed some of the questions [they] received related to a foreclosure. / more+

FTB/CSEA Liaison Meeting a Success
On September 25, [the FTB] attended the California Society of Enrolled Agents (CSEA) annual Liaison meeting. / more+

540NR Booklet Mass Mailing Discontinued
[The FTB] decided to discontinue the mass mailing of our Nonresident or Part-Year Resident Income Tax Booklet California 540NR directly to taxpayers. / more+

Small Business
Announcing the California Child Support Guide for Business
DCSS announces the California Child Support – A Guide for Business — a complete step-by-step web-based guide designed to help employers meet child support requirements in California. / more+

Ask the Advocate
Taxpayers’ Rights Advocate Role
[The advocate continues] to be pro-active, visible, and accessible to taxpayers. / more+

Inside FTB
Take a look at the changes happening at FTB. / more+

Criminal Corner [Stacie says: my favorite]
[A] monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. / more+

California Franchise Tax News – October

[Stacie says: This directly from the Calfiornia Franchise Tax Board’s website, is October Tax News]

Coming Soon – Resident, Nonresident, and Real Estate Withholding Form and Processing Changes Begin in 2010

Effective January 1, 2010, we will be implementing changes for withholding forms and payments. / more+

Adjusted Interest Rate for January 2010 to June 2010
Pursuant to Revenue and Taxation Code Section (R&TC) 19521 (formerly 19269), the adjusted interest rate has been determined for the period January 1, 2010, through June 30, 2010. / more+

Thousands of Businesses Need to File State Tax Returns
On September 14, 2009, we began contacting more than 35,000 companies that did business in California in 2007, but failed to file a state tax return for that year. / more+

Form 540 Gets a Mini-Makeover
Each year our forms section revises the previous year forms and publications to reflect the new tax year, new information, and law changes. / more+

IRS Tax Calendar
The Tax Calendar for Small Businesses and Self-Employed is now available. / more+

It’s Official! California Backup Withholding Begins January 1, 2010
Beginning January 1, 2010, with certain limited exceptions, payers that are required to withhold and remit backup withholding to the Internal Revenue Service (IRS) are also required to withhold and remit seven percent of the payment to FTB. / more+

Small Business
What Does Conformity Mean to the Small Business Owner?
California conformity to federal tax law is an area of interest for California taxpayers and small business owners. / more+

Ask the Advocate
Indexing Tables
I have received a number of questions through our Systemic Issue Management System on indexing since California released its indexing tables in August. / more+

Inside FTB
New Policy for FTB Installment Agreements
In our public outreach efforts, we offer different forums for CPAs, enrolled agents, attorneys, corporate tax personnel, and all other tax professionals to have the opportunity to discuss cutting-edge tax topics, provide input, while earning Continuing Professional Education credits. / more+

Criminal Corner
Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time./ more+

Big Business
Business Foreclosures or Short Sales
In our July 2009 Tax News, we addressed some of the questions we had been receiving related to a foreclosure or a short sale of a personal residence. The other question we have received asks, “What if the foreclosure is on my rental property?” / more+