The Franchise Tax Board (FTB) is sending letters to more than 45,000 California businesses that have not filed their 2012 state income tax returns. Each year FTB reviews more than 5 million income records received from the IRS, the State Employment Development Department, the State Board of Equalization, financial institutions, and other businesses. FTB matches this information against its tax records to identify non-filers. Last fiscal year, FTB collected approximately $32 million from businesses that failed to file tax returns. FTB gives business non-filers 30 days to file a tax return or show why one is not required. Businesses that disregard the letter will get a tax assessment based on income and other information reported to FTB. The tax assessment includes interest, fees, and penalties. FTB has more information for those receiving letters at ftb.ca.gov. Click on the Businesses tab and select Notices/Collections from the left side menu. Click on Notices and then select more on bills and notices. Select: Respond to request or demand for tax return. Businesses can request more time to respond, retrieve information that can help them file a return, sign up to receive an email reminder to file, and much more.
Franchise Tax Board Contacting Business Tax Non-filers
Posted by Lee Reams Sr. on