CA Franchise Tax Board

California’s FTB is offering amnesty for syndicated conservation easements and captive insurance company tax deductions. Both investments are highly-sophisticated, often-fraudulent tax schemes. I’ve been getting lots of calls recently from taxpayers who invested in one of these for their generous tax write-offs, but who are now under FTB audit. If the FTB finds a syndicated conservation easement or captive insurance company investment is not legitimate, then the taxpayer is subject to a 40 percent penalty, plus a doubling of the interest rate. Unfortunately, many of these transactions are not legitimate. Read more » 
August 5, 2023

Here’s a story, with lessons, of how putting your social security number on a minor child’s account can go wrong. Read more »
July 6, 2021