Tax News
December 2015

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Tax Preparer Tour of MyFTB

Let’s take a tour of the enhanced MyFTB from a Tax Preparer’s point of view.  / more+

Reminder - Registration for the Enhanced MyFTB Starts January 4, 2016

As we mentioned in our November Tax News, registration for the enhanced MyFTB begins January 4, 2016.  / more+

Enhanced Identity Verification (Proofing)

One of FTB’s foundational principles is to protect taxpayer information and privacy.  / more+

Doing Business 2015 Indexed Amounts

In our October 2015 Tax News article, 2015 State Income Tax Rate Schedules Adjusted, we released the 2015 state tax brackets for personal income tax. Brackets are “indexed” each year by adjusting them to reflect changes in the California Consumer Price Index (CPI).  / more+

Changes to a Credit Carryover—Do You Need to Amend?

The 2014 Personal Income Tax Booklet Credit Chart lists more than 50 credits against tax with more than half of these being expired credits.  / more+

Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback

In September 2015, the governor signed Assembly Bill 154, which among other things, modified California conformity to the federal net operating loss (NOL) rules.  / more+

Publication 1016, Real Estate Withholding Guidelines

We are pleased to roll out the completely rewritten Publication 1016, Real Estate Withholding Guidelines, which provides guidance on the withholding requirements for sales of California real property.  / more+

Withholding Voluntary Compliance Program

We offer a Withholding Voluntary Compliance Program (WVCP) to eligible withholding agents (businesses and individuals) who are required to remit California source nonwage withholding for nonresident payments and real estate transactions.  / more+

Dissolutions for Nonprofit Corporations

Beginning January 1, 2016, inactive nonprofit corporations, which are eligible for administrative dissolution under the recently enacted Assembly Bill 557, can be administratively or voluntarily dissolved.  / more+

Ask the Advocate

Changes to Taxpayer Advocate Equity Relief

Senate Bill 540 (Stats. 2015, Ch. 541, Sec. 1), effective January 1, 2016:
Extended and made permanent the Taxpayers’ Rights Advocate penalty, interest, and fee relief provisions.  / 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+

All About Business

Federal Tangible Property Regulations

On October 23, 2015, we held our annual liaison meeting with the California Society of Enrolled Agents (CSEA). This year, like every year, they had some really great questions for FTB staff.  / more+

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