The answer is possibly. The Tax Cuts and Jobs Act passed late in 2017 requires creating or revising hundreds of forms, publications and instructions.
The U.S. taxes income regardless of where it is earned. After a whistleblower came forward in 2008, the IRS learned that certain banks around the world had created profit centers that advised Americans on how to evade taxes.
In 2010, a L.A. taxpayer failed to report more than one million dollars sitting in his Israeli Bank Leumi account on a FBAR (now FinCEN Form 114). He also requested that the bank refrain from mailing statements to the United States and tapped the funds through a loan scheme.
The proposed change affects partnership tax returns when the IRS makes changes or corrections during a federal tax audit. The new step requires the partnership to notify the California Franchise Tax Board of the updates. S.B. 274 is on desk of Governor Jerry Brown after passing the Senate.