Retroactive small business accounting election - Spidell

Retroactive small business accounting election

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Message Board Retroactive small business accounting election

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 3 months ago.

  • Author
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  • #176272
    Maria Thomas
    Participant

    We have 2 clients for which we filed Form 3115 and made the change to a cash method of accounting for small business for 2018.  We were unaware at that time that California had not conformed, and filed the California tax returns on the same basis as federal (cash basis).  Should we still amend the California tax returns even though there would be no changes to the amounts reported?  Any assistance you could provide would be greatly appreciated.  Thank you.

  • #176303
    Lynn Freer
    Participant

    I would just let it go unless the FTB contacts you late, which I doubt they will.