Tax News
December 2007

Legislative wrap-up 2007

Our annual summary of tax-related legislation enacted this session. / more+

California tax-exempt process streamlined

AB 897 has made the process for obtaining California exempt status a lot easier for your clients who have a federal determination letter under IRC 501(c)(3). / more+

New alimony audit project is underway

Results of a pilot project on alimony payments revealed a 40 percent adjustment rate: the amount of alimony deduction, or alimony income stated on the tax return was either increased or decreased in 40 percent of returns examined, affecting multiple years in most cases. / more+

FTB scrutinizes car and truck expense compliance

If your clients file Schedule C and claim car and truck expenses, they may hear from us. A recent audit pilot project uncovered an 80 percent non-compliance rate – FAQs and figures provided. / more+

Establishing the right to a refund

We’re reminding taxpayers that they need to include sufficient support for their refunds when they file their claims, and to make sure that the documentation they need is readily available when they file their claims.  Following the steps described in this article will help will expedite consideration of your clients’ claims, and refund processing. / more+

Notes from the Tax Practitioner Stakeholder Specialist

  • Conformity: AGI phase out limit / more+

Inside FTB

  • “View Payments and Balance Due” Web service to take brief holiday / more+

Criminal Corner

Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. / more+

Buzz on big business

  • Sales Factor: analytical guidance regarding treasury function receipts / more+