FTB

The FTB issued over $20 million in refunds to nearly 47,500 taxpayers that were returned to the FTB as undeliverable. The refunds ranged from $1 to $50,000. To see if you are due a refund, following the instructions provided by the FTB.  For more information,...

Beginning in 2015, any business entity that files an original or amended tax return prepared by using a tax preparation software program will have to file electronically (e-file) with the FTB beginning January 1, 2015. A waiver may be obtained from the FTB if the...

If you exchange real property after January 1, 2014 in California, you are now required to file Form 3840 each year to track your deferred gains and provide other information concerning any non-California replacement property. The new form will be available on the...

The California Franchise Tax Board announced that with the 0.5 percent increase in inflation over the last fiscal year, adjustments have also been made to income tax brackets, filing requirement thresholds, the standard deduction and certain credits for tax year 2014.

Six years ago, the FTB endeavored to implement a tax system modernization project, Enterprise Data to Revenue(EDR),to update existing systems that would allow the FTB to use data more efficiently and automate manual processes. The project has already doubled its...

The California Competes Tax Credit is an income or franchise tax credit available to businesses that come to California or stay and grow in California. Tax credit agreements will be negotiated by Governor's Office of Business and Economic Development (GO-Biz) and...

The Franchise Tax Board has proposed a bill which would provide penalty relief for taxpayers who fail to timely file a tax return or fail to timely pay an income tax liability. This relief would be available for individuals and corporations and would mirror the...

More than one million people who did not file a 2012 state income tax return are receiving letters seeking those returns or to verify that they do not have a tax filing requirement, according to the Franchise Tax Board (FTB). Since the 1950s, FTB has contacted people...

On January 13, 2014, the California Franchise Tax Board (FTB) announced that it holds over $16 million in California income tax refunds that were returned to it by the U.S. Postal Service. The refund amounts range from $1 to $54,000, with the majority being $1,000 or...

See below for an important message from the California Franchise Tax Board: The Franchise Tax Board (FTB) today announced it is now accepting 2013 state tax returns. Also, the FTB provides the following updates on law changes and filing services. What's New for...