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	<title>News and Views for the California Enterprise Zones &#187; may 2010</title>
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	<description>From the tax credit experts</description>
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		<title>Tax News May 2010</title>
		<link>http://canditax.com/blog/?p=769</link>
		<comments>http://canditax.com/blog/?p=769#comments</comments>
		<pubDate>Mon, 24 May 2010 11:32:39 +0000</pubDate>
		<dc:creator>Steven Dotan</dc:creator>
				<category><![CDATA[Tax News]]></category>
		<category><![CDATA[may 2010]]></category>
		<category><![CDATA[tax criminals]]></category>

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		<description><![CDATA[New Home Tax Credits Available The 2010 New Home/First Time Buyer tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. / more+ Withholding Agents Who Fail to Withhold A withholding agent is required to withhold seven percent from all payments or [...]]]></description>
			<content:encoded><![CDATA[<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;"><strong>New Home Tax Credits Available</strong></h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;"><strong>The 2010 New Home/First Time Buyer tax credits</strong> are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011.<strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_1.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;"><strong>Withholding Agents Who Fail to Withhold</strong></h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">A withholding agent is required to withhold seven percent from all payments or distributions of California source income made to a nonresident payee unless the withholding agent receives authorization from us for a waiver or reduced withholding amount.<strong></strong><strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_2.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Available Now: Free California Source Income Withholding Webinars</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">We will host free California source income withholding webinars in May 2010. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_3.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Consider an Installment Agreement for Your Clients with Tax Bills</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">Now that you’ve got those returns filed for your clients, some of them may be returning to your office with Statements of Tax Due from us. Some may have forgotten to send in a check, or if they were short on cash, they may have sent in a partial payment, or no payment at all resulting in the tax bill. The best advice you can give them is to contact us immediately to let us know the situation and to discuss payment options. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_4.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">IRS Nationwide Tax Forums Registration Available!</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">Join tax professionals from across the country for three days of the latest tax law information, hands-on workshops, networking opportunities, and exhibits of the latest tax products and financial services to improve your business. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_5.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Small Business Fair</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">The Riverside Small Business Fair is a special event designed to help small businesses by connecting them with representatives from over 40 federal, state, and local government agencies. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_6.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">2009 Bill of Rights Annual Report</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">Read about what the Taxpayer’s Rights Advocate is telling the Legislature on your behalf in the 2009 Bill of Rights Annual Report. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/aboutFTB/taxpayer_advocate/2009_BillRightsAnnlReport.pdf"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Small Business</h2>
<h3 style="font-size: 1em; font-weight: bold; margin-bottom: 6px;">If Your Clients Have an Online Business &#8211; They May Owe State Taxes</h3>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">We, along with the California State Board of Equalization (BOE), urge online buyers and sellers to be informed about their tax obligations. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_8.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Ask the Advocate</h2>
<h3 style="font-size: 1em; font-weight: bold; margin-bottom: 6px;">Doing Business</h3>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">As you know, I get many questions from practitioners about how to handle their client specific issues. This month, I received an interesting question from a practitioner in the bay area relating to “doing business.” <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_9.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Inside FTB</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">Take a look at the changes happening here at FTB. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_10.shtml"> / more+</a></strong></p>
<h2 style="color: #b77b01; font-size: 1.2em; font-weight: bold; margin-bottom: 0.5em; padding-bottom: 0px;">Criminal Corner</h2>
<p style="margin-top: 0.7em; margin-right: 1.75em; margin-bottom: 0.9em; margin-left: 1.75em;">Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time. <strong><a style="text-decoration: underline; color: #253b5a;" href="http://www.ftb.ca.gov/professionals/taxnews/2010/May/Article_11.shtml"> / more+</a></strong></p>
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