california

California Franchise Tax Board has Launched New Website

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A new California state website just went live, with new features. As the CA Franchise Tax Board announced not long ago, its new website went live on Sunday, June 23. The site focuses on tasks, instead of customer types (individuals, businesses, tax professionals). Now that the site is up and running, you may use it to request forms online. According to Frequently Asked Questions about the site, 95% of the content that was on the old website will still be there, but forms from before 2007 will be gone. Interested parties can obtain older forms through an online process. For more info: https://bit.ly/2F1PKjW

By |June 26th, 2019|CA tax, california, ftb|0 Comments

Are you a California Employer Who Must File State Copies of W2s and 1099s?

Are you a California employer who must file state copies of W2s and 1099s? Returns that are paper-filed with the IRS will be forwarded to the CA Franchise Tax Board (FTB), so there’s no need for you to also file with the FTB. Generally, the IRS and FTB have the same filing requirements. If you have 250 or more returns, electronic filing with the FTB is required. The e-filing due date is 3/31/19. If you use the IRS Combined Federal/State Filing Program, only one filing is necessary. The IRS will forward original or corrected data to the FTB. If you have questions about filing, please contact your Linkenheimer CPA. 

By |March 20th, 2019|1099, business, CA tax, california, employer, ftb, w2|0 Comments

California Grants Disaster Relief to Certain Employers

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California grants disaster relief to certain employers. The CA Employment Development Dept. is giving affected employers extra time to file state payroll reports and to deposit state payroll taxes without penalty or interest. This applies to employers in Amador, Glenn, Lake, Mendocino and Sonoma Counties who were directly affected by storms that began on 2/25/19. These employers may request a 60-day extension of time to accomplish these tasks. Requests must be received within 60 days of the original payment or return due dates. If you have questions about this or other filing deadlines, please contact your Linkenheimer CPA. For details: https://bit.ly/2LyrD38

By |March 13th, 2019|business, california, employer, extension|0 Comments

What’s New for 2018 California Tax Returns?

What’s new for 2018 California tax returns? The list of changes is long. That’s why the CA Franchise Tax Board has created a “Taxnews” page, with information about tax filing. The page includes information about credits such as the earned income credit, the new employment credit and the CA Competes credit, plus instructions for many other tax topics.

A few of the highlights include:

Federal Tax Reform

The Tax Cuts and Jobs Act (TCJA) signed into law on December 22, 2017, made changes to the Internal Revenue Code (IRC). In general, California Revenue and Taxation Code does not conform to the changes. California taxpayers continue to follow the IRC as of the specified date of January 1, 2015, with modifications. The IRS issued Notice 2019-11 to provide for a waiver of the estimated tax penalty for taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.

This relief is designed to help taxpayers who were unable to properly adjust their withholding and estimated tax payments to reflect an array of changes under the TCJA, the far-reaching tax reform law enacted in December 2017. For California purposes, the TJCA had no general impact to the […]

California Tax News Related to Wildfires

Tax relief is available for California employers in counties hit by recent wildfires. The CA Employment Development Dept. (EDD) has announced that employers in Butte, Los Angeles and Ventura counties directly affected by the Camp, Hill and Woolsey fires may request up to a 60-day extension of time from the EDD to file their state payroll reports and deposit state payroll taxes without penalty or interest. Written extension requests must be received within 60 days from the original delinquent date of the payment or return.

Due to a presidential disaster declaration, some victims of California’s recent wildfires may qualify for federal Disaster Unemployment Assistance (DUA). DUA provides temporary unemployment assistance to eligible individuals whose work or self-employment has been interrupted due to a major disaster and who also meet certain other conditions. This applies to losses in CA from the Camp, Hill, and Woolsey fires. Eligible persons may receive up to $450 per week for up to 27 weeks. The deadline to file is 12/14/18. If you have any questions, please contact your Linkenheimer CPA. For more info […]

By |November 21st, 2018|CA tax, california, disaster|0 Comments

FTB Issuing Late Filing Penalties, Despite Extension Due to Fires

We have had clients receive  FTB notices with a much larger late filing penalty than it should be, despite being extended due to the fires. We spoke to the FTB, and they said that their system is not picking up the zip codes,  and therefore notices are being issued with the late filing penalty. They suggest calling in and the account will be flagged to auto adjust once they fix their system (IT is updating their coding) but temporarily they are placing holds on those accounts after you call in.  Please be aware of this and contact your Linkenheimer CPA if you get a notice and don’t just pay it, as this may complicate the adjustment process. We will keep you updated and let you know once the FTB has resolved the issue. In the meantime, if you have any questions, please contact us.

By |March 14th, 2018|california, disaster, ftb|0 Comments

California Enacts $15 per hour Minimum Wage Rate

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On April 4, 2016, Governor Jerry Brown signed a bill into law that will increase California’s minimum wage rate to $15 per hour by 2022. This Employment Law Summary provides an overview of this law how it will be phased-in over the next several years:

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California Enacts 15 Minimum Wage Rate

By |April 6th, 2016|california|0 Comments

Tax-Related Changes to Newly Passed California Propositions

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