When it comes to California taxes, “conformity” to the federal Internal Revenue Code (IRC) does not always mean alignment. This can create big surprises for taxpayers. With the passage of Senate Bill 711, California has officially updated its conformity date to January 1, 2025. This means the state will now recognize most federal tax provisions that were in effect as of that date but not all of them.
At Wilson Tax Law Group, APLC, we are closely monitoring these changes because the gap between state and federal law is one of the most common causes of […]