We have seen an increase in the Franchise Tax Board, Board of Equalization (Sales Tax) and IRS Tax Audits in recent months. In the last few months, California Sales Tax Officers have also visited the businesses in various counties including Alameda, Contra Costa, Santa Clara and requested to see their sales receipts and record of their sales transactions. In many cases, BOE has asked these businesses to bring their detailed sales record to the BoE office in Oakland CA. Certain types of businesses like Gas Stations, Grocery Stores, Retail Stores and businesses with the majority of cash transactions are of particular interest to FTB and IRS.
We will be holding a free conference call in February to discuss important steps you can take to prepare yourself for such a visit. We will discuss many scenarios that may catch you off guard.