Check Out the Secrets of Piggyback Audit from FTB
The notice contained in the California Franchise Tax Board can be frightening to any taxpayer. Even after you have endured a federal IRS audit , California can spring a piggyback audit, acting upon the IRS auditor. It simply implies the state sees through your taxes on the basis of the federal audit. Knowing about this process is crucial to Californians who have already faced the IRS, since it can help them anticipate any scrutiny at the state level and handle it in a manner that helps them avoid any complications and penalties. Find the best tax attorney in San Francisco who can help. What is a Piggyback Audit? Piggyback audit. The piggyback audit arises where the California FTB piggybacks off an IRS audit. The two agencies are interconnected by data exchange, and hence any federal revisions, such as deductions that are disallowed, reclassification of income, or added tax, are stressed and transmitted to California. Since state tax liability is generally related to fed...