SBOE: Why am I Being Audited? A government agency that business owners and operators are likely to be familiar with, but which may be wholly unknown to the average taxpayer, is the California State Board of Equalization. The State Board or BOE, as it is often called, has a variety of responsibilities which include monitoring
california residency audit
California Residency Audit
A person’s “residence” under California law is the key to understanding their state income tax liability. For this reason, the California Franchise Tax Board (FTB) conducts residency audits that will determine a person’s residency called a California Residency Audit. Outcomes of a California Residency Audit Generally, three outcomes are possible; a taxpayer may be found
Understanding an IRS Audit
An IRS audit is a review of a business or individual’s tax return to ensure that everything was reported correctly in compliance with applicable tax laws. By law, the taxpayer is only required to pay the exact amount of tax owed, no less and no more. Consequently, if a taxpayer incorrectly reports his or her
Franchise Tax Board Audits
The Franchise Tax Board of California (FTB) is like any taxing entity in that it ensures taxpayers compliance through the use of audits. An FTB audit is a formal inspection of your books and records in connection with your personal or business tax returns. The purpose of an audit is to ensure that you as