Tax News
November 2014

FTB Archive Disclaimer:  Archived content is not current and may contain broken links. It remains online for historical reference or research. The search function above allows you to search archived and current content separately. If you need archived content in a different format, contact us.

New IRC Section 1031 Filing Requirements for California

For taxable years beginning on or after January 1, 2014, California Revenue and Taxation Code (R&TC) Sections 18032 and 24953 requires taxpayers who exchange properties located in California for like-kind properties located outside of California under IRC Section 1031 to file an annual information return. / more+

Nonwage Withholding Audit Process Available Now

We conduct withholding audits in accordance with California’s R&TC Section 19504 to ensure compliance of withholding agents.  / more+

How to Allocate the Trust’s Withholding Credit to its Beneficiaries

In last month's article, "Withholding When a Trust is on Title," we mentioned if a trust distributes income to a beneficiary (for example the gain on the sale of California real estate), we require California Form 592, Resident and Nonresident Withholding Statement to allocate the related withholding credit from the trust to the beneficiary. / more+ Archive Section Update – We Moved Prior Year Tax News Content to the Archive in October 2014

In July’s Tax News, we informed you all about our new archive section and what content we planned to archive. / more+

Free Webinar for Nonprofits - Hosted by Controller John Chiang

Interested in learning more about California income tax compliance and reporting requirements for nonprofit organizations?  / more+

Free Webinar: Tax Information for H-2A Visa Agricultural Workers and Employers

Interested in more information about the federal tax treatment of H-2A visa agricultural workers and employers? / more+

FTB Issues Tax Assessments for Senior Exemption Credit

Taxpayers who filed their 2010, 2011, and 2012 California Income Tax returns claiming the Senior Exemption Credit and who did not qualify due to failure to meet the minimum age requirement, will receive a Notice of Proposed Assessment (NPA). / more+

Senior Exemption Credit – More Information

The Senior Exemption Credit is for taxpayers who are 65 years of age or older in the tax year the credit is claimed.  / more+

New Tax Law

We provided analyses for almost 200 separate bills during the 2013/14 Legislative Session. These analyses are available on our website at FTB Legislative.  / more+

State’s Top 500 Tax Debtors Owe $129 Million

We updated our Top 500 Delinquent Taxpayers list with 316 individuals and 62 businesses comprising the new list. Combined they owe the state more than $129 million.  / more+

Ask the Advocate

2014 CSEA Meeting

On September 19, 2014, we held our annual liaison meeting with the California Society of Enrolled Agents (CSEA).  / more+

Chief Counsel Corner

Following Federal in a Research Credit Case

II t has always been FTB’s practice to follow an on-point federal determination in the context of a research credit claim.  / more+

Event Calendar

As part of education and outreach to our tax professional community, we participate in many different presentations and fairs.  / more+

EDR in the News

See what’s new with our new Enterprise Data to Revenue (EDR) project.  / more+

Inside FTB

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

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