In May 2014, Hernando, a resident of California, has his 2012 Federal income tax return audited by

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In May 2014, Hernando, a resident of California, has his 2012 Federal income tax return audited by the IRS. An assessment of additional tax is made because he had inadvertently omitted some rental income. In October 2014, California audits his state return for the same year. Explain the coincidence.

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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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