Pass Through Entity Elective Tax Payment
California has passed legislation to allow owners of pass though entities such as partnerships and S-Corporations to bypass the state and local... Read More
State and Local Tax Deduction Limit
In Revenue Ruling 2019-11, posted on IRS.gov, the IRS provided four examples illustrating how the long-standing tax benefit rule interacts with the new... Read More
The Charitable Contribution Deduction
Section 170(a) provides, subject to certain limitations, a deduction for any charitable contribution, as defined in § 170(c), payment of which is... Read More
IRS Audit Statute of Limitations
The Internal Revenue Service (IRS) makes every effort to examine tax returns as soon as possible after they are filed. Moreover, an... Read More
Does My Business Qualify for the Employee Retention Credit?
What is the Employee Retention Credit? The Employee Retention Credit is a fully refundable tax credit for employers equal to 50 percent... Read More
EDD Statute of Limitations for Collections
The Tax Branch (TB) of the Employment Development Department (EDD) administers the collection, accounting, and auditing functions of California’s payroll tax program.... Read More
California Sales Tax Nexus
How does a business know if it has a California sales tax nexus? Even though use tax is owed by consumers, RTC... Read More
Does Bankruptcy Extend the IRS Statute of Limitations?
If you have filed a bankruptcy, your IRS statute of limitations may be affected. Most people who are considering bankruptcy are doing... Read More
Is Debt Discharge Income Taxable?
Debt exists where you borrow money and are legally obligated to repay a fixed or determinable amount at a future date. You... Read More
What is an IRS Audit Reconsideration?
Have you received a notice from the IRS saying your tax return was audited (or the IRS created a return for you)... Read More