Qualified Amended Return for Personal Income Taxes - Spidell

Qualified Amended Return for Personal Income Taxes

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Message Board Qualified Amended Return for Personal Income Taxes

  • This topic has 3 replies, 3 voices, and was last updated 1 week ago by Barry Guterman.
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    • #197509
      Barry Guterman
      Participant

      Will the filing of an amended CA personal income tax return after IRS examination but before assessment of tax and before any FTB contact constitute a ” qualified amended return” in order to avoid substantial understatement penalty? Do you read the statute by substituting “Franchise Tax Board” for IRS?

    • #197528
      Lynn Freer
      Participant

      Good question. I’m not sure but it certainly would be worth a try as you will owe the tax anyway and the FTB will for sure go after the taxpayer.

    • #198564
      Christopher Green
      Participant

      This is rather old and is found in an FTB notice on corporate taxation but here is an FTB definition: “A qualified California amended return is defined, generally, as an amended return filed after the due date of the return and before the time a taxpayer is first contacted by the Franchise Tax Board concerning an examination of the return.” See https://www.ftb.ca.gov/tax-pros/law/ftb-notices/1992-9.pdf

    • #198618
      Barry Guterman
      Participant

      Chris:
      Thanks for the information. This is very helpful.

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