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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…
Read more: California Statutes of Limitations on Claims for Refund or Credit
Things To Know About Form 1099’s
Individuals, partnerships, corporations, or other organizations engaged in a trade or business are required to file Form 1099 if they paid $600 or more to the following:
- Independent contractors (the recipient is an individual or…
What are Cancelled Debts? Are They Taxable?
Cancellation of debt occurs when the lender from whom you borrowed money later cancels the debt. Depending on the circumstances, you may have to include the cancelled amount as income on your tax returns.
Borrowed…
How Has the United States v. Windsor Decision Affected Same-Sex Couples’ Federal Income Taxes?
On June 26, 2013, the U.S. Supreme Court in United States v. Windsor overturned Section 3 of the Defense of Marriage Act ("DOMA"), which had defined marriage as a union between a man and a…
When Am I Subject to Alimony Recapture?
If your alimony payments decrease or end during the first 3 calendar years, you may be subject to the recapture rule. You have to include in income in the third year part of the alimony…
Who Are Exempt From Having The Required Health Coverage Under The Obamacare?
Penalty for failure to maintain health coverage will be phased in starting in 2014. The penalty will be reported and paid on the individual’s personal tax return.
Who must have insurance? All individuals are required…
Read more: Who Are Exempt From Having The Required Health Coverage Under The Obamacare?
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