Call to action: Conformity bill support
It may be now or never to make our California tax preparation lives easier. If enacted, AB 1580 (Calderon) would conform California tax law to many of the federal changes made over the past four years by changing the specified date in the R&TC from January 1, 2005, to January 1, 2009. AB 1580 would apply for taxable years beginning on or after January 1, 2009, so we would see its impact immediately this filing season. However, your elected officials need to hear from you to ensure the success of the conformity bill.
Among its many provisions, the bill would provide modified conformity to the federal extension of mortgage debt forgiveness and conformity to indexing of IRA AGI limits.
The bill also contains a conformity provision that some business groups find controversial: A 20% penalty for refund claims filed without a reasonable basis.
If you agree with Spidell Publishing that general conformity is good state tax policy, please contact to your State Assembly Member, Senator and the Governor no later than September 8, 2009. For contact information of California Legislators, visit:
http://www.leginfo.ca.gov/yourleg.html
Contact Governor Arnold Schwarzenegger at:
State Capitol Building
Sacramento, CA 95814
Phone: (916) 445-2841
Fax: (916) 558-3160
http://gov.ca.gov/interact
