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Posted by HLunsford on October 5, 2009, 3:13 pm
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removeps-groups@yahoo.com wrote:
(snipped....)
>
> The IRS, I think, notifies the states when it modifies your return so
> that the states can collect their ounce of blood. In this case, the
> IRS claims you didn't report capital gains of $CCC. So California's
> FTB may send you a notice asking for tax on this $CCC. If they do,
> then respon with your 540-X.
>
Conventional wisdom among tax pros is not to wait in cases like these
for state to some day realize that you might owe more, but to seize
the..... uh... strike while the iron...... uh.. no....take the....
bull by the horns, yes, that's it, and go ahead now and make the
necessary state amendment.
ChEAr$,
Harlan Lunsford, EA n LA
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