Tax News July 2020
- Need to come to a field office? We are open, but make an appointment
Our field offices reopened on June 15, 2020, to assist customers by appointment only.
- Extended due dates remain the same amid COVID-19
Income taxes due July 15.
- Your client can’t pay their tax due by the July 15th deadline?
We have different options available for your clients who cannot pay a current year balance due by the July 15th deadline.
- Deferral period for installment agreement payments ends July 16, 2020
We have placed a temporary suspension on several collection activities through July 15, including Installment Agreements.
- Legislative bill watch list
Many tax bills are introduced at the beginning of each legislative season.
- California extends the Film and Television Tax Credit Program to 2025
In August 2018, California lawmakers enacted a third version of the California Film and Television Tax Credit Program known as Program 3.0.
- California Like-Kind Exchanges (FTB 3840) letters
Beginning in July through August 2020, we are mailing letters to taxpayers who either failed to file or filed an incomplete FTB 3840 for 2017.
- POA/TIA notices coming when revocation is required – Part II
Beginning in May 2020, when we receive information that a taxpayer is deceased, we would revoke any Power of Attorney (POA) declaration or Tax Information Authorization (TIA) that the taxpayer was listed on and would send a notice.
- Individual Shared Responsibility Penalty updated
Beginning January 2020, state law (Senate Bill 78 [Chapter 38, Statutes of 2019]) requires individuals to have minimum essential coverage or pay the Individual Shared Responsibility Penalty (penalty) unless they qualify for an exemption.
- Top 10 questions for Form 593, Real Estate Withholding Statement
On January 1, 2020, our new Form 593, Real Estate Withholding Statement went live.
- Ask the Advocate
July 2020 filing season is underway
- 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 (virtually), 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: firstname.lastname@example.org