Taxation

This paper proposed changes to the way California the Franchise Tax Board assesses and reviews penalties. These changes are designed to better harmonize FTB and IRS tax administration with respect to penalties. Harmonization it important because it is the same behavior that causes penalties at both the Federal and State level. Differences between IRS and FTB enforcement of penalties inevitably force taxpayers to compare the two agencies and how they were treated fairly by both agencies. Usually these comparisons are framed in negative terms and focused on if they believed they received procedural due process. Worse treatment is defined as which agency they believe “did not listen” to their request. More often than not, this comparison leaves taxpayers with negative impressions of the FTB if the IRS abates a penalty or offers taxpayer favorable procedures and California applies stricter scrutiny.  Read more

California law should be changed to fully conform to IRC Section 1031 on like kind exchanges. With the Tax Cuts and Jobs Act of 2017 (P.L. 115-97, Dec. 22, 2017), IRC Section 1031 was changed to only apply to real property held for business or investment purposes, effective for exchanges completed after December 31, 2017. Prior to this change, the like kind exchange gain and loss deferral rule also applied to many types of personal property (tangible and intangible) held for business or investment purposes. Read more

Currently, California tax agencies require taxpayers to submit a different set of financial statements to each agency for tax collection purposes, even though each agency’s forms request mostly identical information. This burdens taxpayers with multiple submissions if they have outstanding liabilities with more than one agency. It is especially cumbersome for those who already face financial and compliance difficulties. Read more

The State of California and its subordinate entities have enacted policies that encourage tribal land return to California Tribes and support co-management of ancestral lands by California Tribal Nations.[3]  Current State policy aims to provide measures of restorative justice for California’s role in the genocide of California Indians, taking tribal lands without due process or fair compensation, and its previous prejudicial policies that harmed California Indians.[4]  Unfortunately, these land return transactions can create a financial burden on tribes when the property taxes increase with the acquisition at a higher purchase price. Read more

This program will examine California's approach to determining the multistate tax base, including apportionment and revenue sourcing. Read more

The speakers will discuss new tax law including the recent tax cases of particular interest Connelly and Anenberg. The speakers will also discuss upcoming tax legislation and potential proposals. Read more

At the SALT Committee's Annual Meeting, representatives from the four state taxing agencies will present on current developments and provide general status updates on matters from the last fiscal year. Read more

Gain insights into: Reviewing all schedules on a Form 706 and 709 Learning the pitfalls in reporting that often occur in trust Read more

The purpose of this webinar is to show participants the efficient results of hyperlinking documents to tax returns, reports, briefs, audit files and other documents in litigation and other court filings. The objective of the webinar is to demonstrate and teach how terabytes and compound documents can be available at the click of a button. Read more

Save the Date for the 2024 Annual Meeting of the Tax Bar and Tax Policy Conference at the Hilton Anaheim! Read more