Own a Business Outside California? You May be Subject to California Tax Without Even Knowing It.
The California Franchise Tax Board (FTB) may determine that an out-of-state business is subject to California tax if the business has enough of a connection with the State of California. The FTB is a taxing agency that has taken aggressive positions against...
Failing to Notify the Franchise Tax Board of an IRS Audit Means the Tax May Not Be Dischargeable in Bankruptcy
No one wants to be audited by the Internal Revenue Service (IRS). However, if the IRS examines your tax return and makes any changes to it, then California taxpayers have an extra obligation to notify the California Franchise Tax Board (FTB) of these changes. Under...
Skipping FTB Installment Payments
In response to the COVID-19 crisis, the California Franchise Tax Board (“FTB”) has followed the IRS’ lead and given taxpayers penalty-free extensions to July 15, 2020 to file and pay their California tax obligations for 2019 and for the first two quarters of 2020.
Status of California Tax Filing Deadlines Due to COVID-19
In the recent days, the IRS and state tax agencies have issued several announcement related to the deferral of tax filing and tax payment obligations. Here’s a summary related to California State Tax Agencies.
