Tax News December 2021

• Criminal Investigation Bureau

  While you may be familiar with Franchise Tax Board and their Audit and Legal program areas, you may not know about the Criminal Investigation Bureau

• Power of Attorney (POA) Expiration Date for Old Declarations

  FTB is setting an expiration date for older Power of Attorney relationships

• State Reports on Median Income for 2019

  California taxpayers filed nearly 19 million 2019 state income tax returns, reporting nearly $1.71 trillion of adjusted gross income

• 2020 tax return payments

  FTB was recently made aware of an issue that affected some 2020 tax year return payments

• Pass-Through Entity (PTE) Elective Tax and Payment Information

  The PTE elective tax payment can be made electronically using Web Pay on FTB’s website, or buy printing and mailing in FTB 3893 voucher

• Homeless Hiring Tax Credit

  Employers will need to meet eligibility requirements

• Franchise Tax Board (FTB) Hosts Virtual Stakeholder Meetings

  FTB hosted two legislative stakeholder meetings to gain input from the public

• Real Estate Withholding

  1031 (Like-Kind) Exchanges with Insufficient Funds

• Suspended or forfeited businesses

  Inform your business clients about steps to take to revive a suspended or forfeited business entity

• Ask the Advocate

  Annual Liaison Meetings
  California Society of Enrolled Agents (CSEA) and the California Society of Certified Public Accountants (CalCPA)

  The Retirement of Marc Narlesky
  33 Years of Dedicated Service

• Tax News Survey

  We need your input!

• Event Calendar

  As part of education and outreach to our tax professional community, we participate in many different presentations and fairs. We provide a calendar that shows the events we attend, as well as other events happening with us, such as interested party and board meetings.

Have a topic or tax question you’d like us to address? We want to hear from you! Submit your ideas to us: taxnews@ftb.ca.gov