Worldwide Combined Reporting-FTB can save some trees
CA Franchise Tax Board Advisory Board Topic - Large worldwide combined reporting taxpayer wants FTB to save some trees!
As we’re finishing up our worldwide California return, we’re packing it for mailing to the FTB. Because it’s a worldwide return, not only do we have to include the 2,000 + pages of the federal return, but we also need to attach the 4,000+ pages of US international tax forms (Forms 5471, 8858, etc).
The filing copy of the California return fills 2 full boxes that we send to the FTB.
What does the FTB do what that volume of paper? Why do they need it? What do they need it for? Does it just go into a dark file room?
How about not requiring a ‘complete’ copy of the federal return with all its attachments.
Maybe FTB will say something about needing to eFile. We’ll, that has its own problems. We’ll continue to paper file and send massive amounts of paper.
With the introduction of SB 567 that would adopt worldwide combined reporting, how many other taxpayers would find themselves needing to paper file? Yes, there are far more considerations than saving the trees when it comes to mandatory worldwide combined reporting. Just thought I would table that issue. Perhaps the taxpayer could keep certain files available for review during a future audit. Just a thought, I like trees!