Can the California Franchise Tax Board demand Tax Returns in 2019 for an LLC that was suspended in 2014?
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Answered on October 14, 2022
The FTB can do whatever it wants to, but you have options. 2019 is a problem. You may rely on Ralite and ignore the FTB or you can revive the LLC,...
LLCs Financial Questions
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Answered on October 05, 2022
I would add that S Corps do pay tax in California at 1.5%. As for LLCs, beside the California minimum tax of $800, an LLC is also subject to an...
Will filing tax returns put me in jeopardy?
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Answered on September 14, 2022
I would recommend hiring a California sales tax attorney with a good relationship with the California Department of Tax and Fee Administration...
I need some help ?
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Answered on August 30, 2022
Yes; the IRS or CA Franchise Tax Board will stop garnishment of wages IF the taxes, interest and penalties are paid in full. As to your second...
Tax Attorney- Who-Estate or Beneficiary or Both- has tax liability on proceeds from Trust-held home sale?
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Answered on July 26, 2022
You received a step up in basis when you inherited the home on the date of death of the decedent. For example, if the home was worth $500K on his...
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Property tax increase more than double
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Answered on July 18, 2022
Your transfer constitutes a change in ownership allowing the Assessor to assess it at FMV as of the transfer date. So, you have a problem. You...
Do I have to pay capital gain taxes on an inherited house?
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Answered on May 04, 2022
Not usually as you get a step-up in basis to the FMV on the date of death of the party that left you the house. Now, if you sell it 5 years later,...
Delinquent California corporation back franchise taxes.
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Answered on April 19, 2022
You will have to pay all of the back taxes owed to the FTB before you can revive the corporation.
How do I know if old IRS liens have expired? I haven't received a notice from the IRS in 11 years, after annual contacts.
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Answered on April 01, 2022
The search of County Recorder Records should be a good indicator of whether any liens still exist; but, you can also simply call the IRS and ask....
Filed an offer in compromise with the Califonia Department of Tax & Fee Administration?
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Answered on March 11, 2022
Your question is a good one. We do CDTFA OICs all the time. Whether to continue your appeal or file the OIC is always a struggle but generally...
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