Tax Blog and News

IRS Extends Due Date for Filing Some FBARs

IRS extends due date for filing some FBARs

The IRS issued a new notice, Notice 2009-62, 2009-35 IRB, which extends the due date for filing Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts (FBAR)) in certain cases.
The extension applies only to the following individuals:
(i) persons with signature authority over, but no financial interest in, a foreign financial account, and
(ii) persons with a financial interest in, or signature authority over, a foreign commingled fund.

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California State Board of Equalization Announced that Sales to Mixed Indian/Non-Indian Couples are 100% Exempt from California Sales Taxes Instead of 50% Exempt.

On July 9, 2009, the California State Board of Equalization (“SBE”) announced that it is proposing a change to it’s position regarding sales to mixed Indian couples. In particular, the SBE’s proposed new position is that sales to married couples (and domestic partnerships) which consist of both an Indian spouse and an non-Indian spouse will now be considered 100% exempt from sales tax if they otherwise meet exempt requirements.

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