Tax News March 2020
- FTB Notices DelayedNew
In February 2020, we experienced a delay in printing and mailing some of our notices.
- Minimum Essential Coverage Individual Mandate - Special Enrollment PeriodNew
Covered California has announced a special enrollment period to enroll in health coverage through April 30, 2020.
- Worker classification and AB 5
We’ve heard from many tax professionals that they would like more information.
- Can’t pay a tax bill?
We offer several payment options you and your clients.
- Reminder: Only populate the Partnership Level Tax line after a centralized federal partnership audit
The Partnership Level Tax (PLT) line on Forms 565 or 568 should only be used to report changes or corrections made by the IRS under the centralized partnership audit regime, commonly referred to as a CPAR audit.
- California Competes Tax Credit application period starts March 9, 2020
The California Competes Tax Credit (CCTC) is an income or franchise tax credit available to businesses that want to come or stay and grow in California.
- Individual Shared Responsibility Penalty Calculation
California’s new Minimum Essential Coverage Individual Mandate requires Californians to have health insurance coverage effective January 1, 2020.
- Double check the address on your client’s tax return
After a tax return is filed most of us take a deep breath and say, “one more for the books.” However, it doesn’t always end there. One additional step you should take is to make sure we have a current address for contact.
- Customer Alert – Misleading solicitations to new business owners
We received a phone call from a concerned tax professional asking if a letter his client received was legitimate.
- Ask the Advocate
Helpful tips for your clients that file as HOH.
- All About Business
Remind your clients that own a disregarded SMLLC, to file a tax return (Form 568)
- 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: firstname.lastname@example.org