Did you miss a Tax News Article this tax season? May 2018 Tax News

We know this was a busy time of year for you, so let us highlight a few of the articles you might have missed

First, we replaced Form 540X with the new Schedule X, California Explanation of Amended Return Changes, which reconciles the differences between the original and amended return to determine any additional amount owed or refund due. The Schedule X also provides a simplified approach for taxpayers to report the reason(s) for amending. For more information, check out our January issue, New Amended Return Process for Tax Years 2017 and Beyond, the February issue for the Advantages of the New Schedule X, and the April issue, A Reminder About the New Schedule X, that gives some tips on common mistakes.

Second, we posted critical information about the affected taxpayers impacted by Southern California wildfires, floods, and mudslides that began in December 2017. We granted an extension to file 2017 California tax returns and make payments until April 30, 2018.

Last, have you visited our cannabis webpage or checked out the changes to MyFTB lately? The cannabis webpage includes helpful information for cannabis businesses. For MyFTB, we dedicate a monthly column to the new features, tips, and procedures MyFTB provides to tax professionals.