tax updates - Linkenheimer LLP CPAs & Advisors

California Tax Updates for 1/7

Update 1:

Employers in California should know the state Employment Development Dept. released CA’s 2022 interest rates on delinquent payroll taxes. For the period of Jan. 1, 2022, through June 30, 2022, the interest rate will be 3% compounded daily (unchanged from 2021). This is the interest rate charged on all overdue taxes, including: Unemployment Insurance; Employment Training Tax; State Disability Insurance and Personal Income Tax withholding. This rate is subject to semiannual adjustment in January and June, based on short-term federal rates. CA’s Unemployment Insurance Code doesn’t allow the interest to be canceled or waived. Contact us with questions or visit this link: https://bit.ly/3dZFFXS

Update 2:

California’s statewide minimum wage rate will rise in 2022. The CA Dept. of Industrial Relations has announced that the statewide hourly minimum wage rate will rise to $15.00 for large employers (with at least 26 employees) and to $14.00 for smaller employers. In 2016, CA law required the state […]

By Linkenheimer LLP|2022-01-07T20:29:29+00:00January 7th, 2022|CA tax|0 Comments

PPP Video Updates with Kelly McGlinchy from Linkenheimer LLP

Learn more about what is happening in regards to PPP loans, forgiveness and other updates with Kelly from Linkenheimer. If you have questions, please contact your Linkenheimer CPA.

By Linkenheimer LLP|2021-03-12T18:07:19+00:00March 10th, 2021|New Tax Laws, ppp|0 Comments

California Tax Updates for August 28

Post 1:

The California Employment Development Dept. (EDD) has released the latest issue of its quarterly newsletter for employers. Among other things, it includes information about COVID-19 employer resources and a list of additional COVID-19 business resources and changes to CA’s Paid Family Leave Program. You’ll also find pdfs reporting the latest figures for unemployment benefits in CA by week. It does not include new information about withholding. Here’s the newsletter from EDD: https://bit.ly/30YYvJk

Post 2:

The California Franchise Tax Board (FTB) just updated its COVID-19 Frequently Asked Questions (FAQs). The FAQs now state that paper returns and other documents must be signed with an original signature by a taxpayer, the taxpayer’s representative or both, but the FTB will not require an original signature through December 31, 2020. This is an extension from the previous end date of July 15, 2020, except for Powers of Attorney. The update is in the section on “Original signatures for paper returns and other documents” and is the only update the FTB made.

If you have […]

By Linkenheimer LLP|2020-09-03T20:01:59+00:00August 28th, 2020|Blog, ca, CA tax, New Tax Laws|0 Comments

California Tax Updates for April 22

Post 1:

The California Franchise Tax Board (FTB) has posted frequently asked questions (FAQs), related to tax relief due to the novel coronavirus (COVID-19). The list addresses topics such as: information returns, extensions to file; the postponement periods of March 12 through July 15, 2020; statutes of limitations, and more. Even more recent additions to FAQ topics are: nonresidential nonwage withholding and real estate withholding. Check the latest FAQ here: https://bit.ly/3e2q9cA or contact us with questions.

Post 2:

An extension of time has been issued for California taxpayers to accomplish certain tasks, from the CA Franchise Tax Board (FTB), due to the novel coronavirus (COVID-19). They include claiming a refund, filing a protest of a notice of proposed assessment (NPA) with the FTB, and filing an appeal or petition for a rehearing with the Office of Tax Appeals. The extension also gives the […]

By Linkenheimer LLP|2020-09-03T20:03:04+00:00April 22nd, 2020|california, ftb, irs, New Tax Laws|0 Comments