Tax News June 2020

• We are still here for outreach events¹⁵

  We are taking a new approach to continue our outreach events.

• Obtaining an Individual Status Letter¹⁶

  Occasionally, we will receive a request for written verification stating an individual has no California tax obligation and/or no filing requirement.

• Closing a California business entity¹⁷

  During this challenging time, business owners have been faced with many difficult and life changing decisions due to COVID-19.

• From State Controller’s Office (SCO): Guidelines to report unclaimed property ¹⁸

  The Unclaimed Property Law allows the state to reunite lost and abandoned property with its rightful owner(s) and to safeguard this property from being used by private interests for personal gain.

• Avoid Economic Impact Payment Scam videos¹⁹

  IRS teamed up with the Federal Trade Commission (FTC) and Better Business Bureau to produce video tips to assist you and your clients to avoid scams.

• Ask the Advocate²⁰

  Education and Outreach during COVID-19

• MyFTB Corner²¹

  Good time to have your clients sign up for a MyFTB account

• All About Business²²

  Changing or Converting a Business Entity

• Event Calendar²³

  As part of education and outreach to our tax professional community, we participate in many different presentations and fairs. We provide a calendar²³ that shows the events we attend (virtually), 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: taxnews@ftb.ca.gov