Financial News

IRS grants filing extensions to California storm victims  The IRS has just announced that it is granting extensions to California storm victims until May 15, 2023, for the following filing and [...]

The SECURE Act of 2019 caused a flurry of changes to the world of retirement plans and income tax planning.  Some of these changes were viewed as beneficial to the taxpayer, such as extending the [...]

Senate Bill 113 provides clarifications to the qualifications and benefits of the Passthrough Entity Tax Election (PTE) program. How to Make the Election For tax years 2022 through 2025, the [...]

As of September 30, 2022, the California legislature passed Senate Bill 951 repealing the wage ceiling for purposes of contributions into the California State Disability Insurance (SDI) Program.  [...]

The recently passed “Inflation Reduction Act” was signed into law on August 16, 2022 and contains provisions directed at clean vehicle benefits (new and used), solar tax credits, energy home [...]

Our office has recently learned that due to errors with the State of California Franchise Tax Board’s (FTB) processing of passthrough entity tax payment vouchers, the FTB is erroneously issuing [...]

To alleviate some of the financial burden of the Coronavirus Pandemic, the CARES Act created the Employee Retention Tax Credit (ERTC), among other tax credits (see prior DKC News article here).  [...]

On March 29, 2022 the House of Representatives passed H.R. 2954 which is commonly referred to as the SECURE Act 2.0. Currently, this bill is being debated in the Senate and it is unclear which [...]

AB 150: Passthrough Entity Elective Tax Update As an update to our newsletter issued earlier this month, there has now been a bill signed by California Governor Gavin Newsom (Senate Bill 113) [...]

As an update to our newsletter issued in late August, there have been some clarifying publications issued by the California Franchise Tax Board in connection with making the Passthrough Entity [...]