sftydvr <sftydvr[at]juno.com> wrote:

- quote -

Does that explicitly require the retention of an actual copy
of the return? Or simply a record of the fact that a return
was prepared (taxpayer name, SSN, tax year, etc.). The
latter is the FEDERAL requirement. So, if CA requires a full
copy to be retained, that would be a significant difference
(not to mention the fourth year).

MTW

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Michael T Wing CPA wrote:

- quote -

Yes. Let's start with the basis period of limitations:
FOUR years, not 3.

There are also provisions to assess up to 4 years from the
assessment date of a federal change, 4 years to claim a
refund (7 years for a worthless security), and probably
several other screwy things I'm too "brain fried" right now
to think of.

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"Michael T Wing CPA" <mtwingcpa[at]yahoo.com> wrote:

- quote -

MTW,

CTEC says that we must maintain a copy of any tax return
prepared for a customer for four years from the later of the
due date of the return or the completion date of the return.

BC

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A colleague has asked whether there are any rules in
California that impose different or additional record
retention requirements on paid preparers, whether efiling or
otherwise. In other words, if you meet the federal
requirements, are you also "covered" as far as California is
concerned?

Thanks for any feedback.

MTW

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