Tax News for July 2010
Monday, July 12th, 2010 | Tax News
10 Tips to Complete the LLC Income Worksheet
We compiled a list of common errors we see on the LLC Income Worksheet. / more+
New IRS Tax Preparer Requirements
Effective January 1, 2011, the IRS will require all paid tax preparers who sign federal tax returns to have a Preparer Tax Identification Number (PTIN). / more+
New Penalty Chart
As promised at the 2009 Taxpayer Bill of Rights Hearing, we completed the FTB 1024, Penalty Reference Chart. / more+
Statutes of Limitations on Claims for Refund or Credit
This is the second in a series of four articles on Statutes of Limitations (SOLs) that relate to California tax law. This month’s article addresses common SOLs for claims for refund or credit that are unrelated to federal action. / more+
RDPs Must Now Use Community Property Rules to File Federal Return
On May 28, 2010, the IRS released Chief Counsel Advice (CCA) 201021050 which changes the federal tax treatment of California registered domestic partners’ (RDP) community income. / more+
State’s First-Time Buyer Credit Almost Gone
As of June 15, 2010, we estimated receiving more than 15,000 applications claiming more than $78 million. / more+
Register for the IRS Nationwide Tax Forums
Join tax professionals from across the country for three days of the latest tax law information, hands-on workshops, networking opportunities, and exhibits of the latest tax products and financial services to improve your business. / more+
Small Business
New Reporting Requirements for Small Tax-Exempt Organizations Begins 2011
Beginning January 1, 2011, California conforms to the 2006 federal law that requires smaller tax-exempt organizations with normal gross receipts of $25,000 or less annually, other than churches and church-related organizations, to electronically file an annual informational notice with us under R&TC Section 23772. / more+
Ask the Advocate
Staff Introductions
The Taxpayers’ Rights Advocate is a legislatively mandated position under R&TC Section 21004. The Taxpayers’ Rights Advocate’s Office identifies systemic problems and find solutions in a cooperative effort, while protecting taxpayers’ rights and recognizing the goals of our audit, collection, and filing programs. / more+
Inside FTB
Take a look at the changes happening here at FTB. / more+
Criminal Corner
Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. / more+

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