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FTB First Time Penalty Abatement Proposed

by | Jun 29, 2022 | Firm News, FTB |

The FTB may be getting on board with the IRS by offering a first-time penalty abatement for qualified taxpayers.  The relief would begin with tax year 2022 and provide one-time relief of failure-to-file or failure-to-pay penalties.  This is just one of the provisions agreed upon in the California 2022-2023 budget agreement which will be voted on by the California General Assembly soon. For this specific relief, see AB 194/SB 194 – Item (7).

For assistance on penalty abatement, contact one of our attorneys here.


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