California partial conformity bill and IRS reform bills enacted - Spidell

California partial conformity bill and IRS reform bills enacted


The Governor and the President have signed the following bills:

AB 91, which provides partial conformity to the following TCJA provisions, among others:

  • The repeal of the NOL carryback;
  • Like-kind exchanges (with modifications); and
  • Limitation on losses for noncorporate taxpayers (with modifications).

H.R. 3151, the Taxpayer First Act (a.k.a., the IRS reform and reorganization bill) which among other things will:

  • Provide uniform electronic signature requirements;
  • Increase the late-filing penalties;
  • Authorize payments by credit cards: and
  • Lower the threshold for filing electronic information returns.

The full text of the bills can be found at:

AB 91: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201920200AB91

H.R. 3151: https://www.congress.gov/116/bills/hr3151/BILLS-116hr3151enr.pdf

Get complete information concerning both of these bills at
Spidell’s Federal and California Tax Update Seminar
.

Northern Locations
Southern Locations
Seminar time: 8:30 a.m. to 4:45 p.m.

 

Webinar 1
Dec. 9—10 (Monday and Tuesday)
8:30 a.m. to noon PT
Webinar 2
Jan. 16—17 (Thursday and Friday)
8:30 a.m. to noon PT
On-Demand Webinar
Available by Dec. 17
Self-Study
Print and Online versions available December 1, 2019