Curious how folks are calculating the April 15, 2021 CA estimated tax payment if there were nondeductible PPP loan expenses and a recognizable EIDL grant during 2020? Actual prior year tax can materially distort the 2021 estimated tax payments. I foresee using prior year tax modified for the PPP expenses and EIDL grant.
Thank you, Lynn. Agree. There is no easy way around this. In addition, I’m assuming FTB is following the scant IRS guidance in that the May 17th – due date – overpayment applied might not be applied to the April 15th estimate?