HELPING YOU MOVE TO THE RIGHT DIRECTION
Choosing the right accountant for you could be one of the biggest decision you can make in your life.
An accountant can help you with any one of your life's major events. From having a new child
to dealing with a death of a loved one; from getting married to getting a divorce; from buying
a home to selling one; or from forming a new business to dissolving one.
A good accountant can be a good partner to help you make these events a better one. A good
accountant can help you save some of your hard-earned dollars and can make your business
and personal endeavors a more successful one.
Ladinez & Company, PC is a CPA firm located in the city Torrance, California. We provide services in income tax return preparations, payroll, bookkeeping, and business consulting. We are tax accountants, tax preparers, bookkeepers, payroll service providers, and business consultants. Our office is within a comfortable driving distance from the beach cities, such as Redondo Beach, Manhattan Beach, Hermosa Beach, El Segundo, Long Beach, San Pedro, and Rancho Palos Verdes. We are also within a driving distance from Los Angles city and Orange County.
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California Statutes of Limitations on Claims for Refund or Credit
Statutes of Limitations (SOLs), according to R&TC Section 19306, that relate to California tax law for claims for refund or credit must be filed no later than:
(a) four years from the original due date of the return or
(b) four years from the date the return is filed if the return was filed within the "automatic extension" period.
(c) Additionally, a claim for refund or credit is timely with respect to payments made within one year of the claim filing date (the "look back" provision).
This claim must be unrelated to federal action. The postmarked date of the claim is the date it is considered "filed," and the taxpayer has the burden of proving the claim is timely filed.
California Franchise Tax Board provides a good example of how does the "look back" provision work.
The following example illustrates the "look back" provision of R&TC Section 19306. An individual taxpayer files a claim for refund for tax year 2003 on May 12, 2010. Since the taxpayer filed the claim more than four years after the original due date of the taxpayer's return (April 15, 2004), and more than four years after the latest date the taxpayer could have filed his return during the automatic extension period (October 15, 2004), the claim could not be allowed under the " four year" provision. However, if the taxpayer made any payments for tax year 2003 during the year prior to the date the claim for refund was filed, the claim, if meritorious, could be allowed to the extent of payments made during that one year period.
If, however, a taxpayer files a claim for refund before all tax and interest for that tax year are fully paid, the claim may be considered an "informal claim for refund." (R&TC Section 19322.1). The statute of limitations will be tolled (paused) as of the date the informal claim is filed. The claim will not be deemed "perfected" and filed until all of the tax and interest for that year are paid. If the informal claim is perfected, the amount of a refund or credit is limited to the total payments made within seven years of the date the claim is "perfected."
- We are CPAs, tax accountants, tax preparers, business managers and consultants based in Torrance, CA near Los Angeles & OC, serving the entire U.S. See us at Google+, Yelp, Google Brand, Yelp. Call us (424) 278-4838 or e-mail us at This email address is being protected from spambots. You need JavaScript enabled to view it..
CPA Firm, Tax Preparers, Accountants, Bookkeepers, Payroll & Business Consultants in Torrance, CA
Our CPA firm is based in the City of Torrance, CA. We provide tax, accounting, and business services to individuals and business. The 2010 United States Census reported that Torrance had a diverse population with (51.1%) White, (34.5%) Asian, (2.7%) African American, (0.4%) Native American, (0.4%) Pacific Islander, (5.4%) from other races, and (5.5%) from two or more races. Hispanics or Latinos of any races were 23,440 persons (16.1%), while non-Hispanic whites formed 42.3% of the population. Our CPA firm understands and accommodates the needs of these diverse taxpayers.
We are a CPA firm, tax preparers, tax accountants, bookkeepers, payroll service providers, business managers and consultants based in Torrance, CA, near Los Angeles, Long Beach, and OC. And we serve the entire U.S.
Other facts about Torrance:
Torrance’s economy is majorly supported by big companies, such as Honda, Exxon Mobil Refinery, Allied Signal Aerospace, and others. The ExxonMobil refinery in the north end of the Torrance is responsible for much of Southern California's gasoline supply. Torrance was also an important hub and shop site of the Pacific Electric Railway.
Torrance was originally part of the Tongva Native American homeland for thousands of years. In 1784 the Spanish land grant for Rancho San Pedro, in the upper Las Californias Province of New Spain and encompassing present day Torrance, was issued to Juan Jose Dominguez by King Carlos III—the Spanish Empire.vIt was later divided in 1846 with Governor Pío Pico granting Rancho de los Palos Verdes to José Loreto and Juan Capistrano Sepulveda, in the Alta California territory of independent Mexico.
