California doesn't seem to be a whole lot of help when conforming to the Fed CARES act. Does anyone know where I can look for the conformity of the retirement distribution taxes spread over three years? Does CA conform to spreading the tax over three years?
Also, I've found nothing about them conforming to the deductibility of PPP forgiven expenses. From everything I've read they do not. Do you guys plan on limiting your clients expenses on CA returns by the amount of the forgiven PPP loan??
Also, I've found nothing about them conforming to the deductibility of PPP forgiven expenses. From everything I've read they do not. Do you guys plan on limiting your clients expenses on CA returns by the amount of the forgiven PPP loan??