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Annual COT-FTB Meeting Covers Trending Issues
There's good news and bad news. The good news is to thank you for all of the many kind comments received about the last article. The bad news is that there was an error in the article. The item about a $2,000 FTB penalty for corporate returns not filed within 60 days of a FTB request isn't new; it has been around for a while. The actual change is that the penalty now applies to LLCs. Thanks to Kitty Wright for the correction.
Annual COT/FTB Liaison Meeting
Our Oct. 24 meeting with the FTB in Sacramento included many of the top managers within FTB operations, including Selvi Stanislaus, the executive officer. These meetings have proved to be mutually productive over the years because everyone has a problem-solving attitude.
A follow-up email to the Committee on Taxation listed the following as being the top issues from...