Tag Archives: Franchise Tax Board

FTB can penalize you even if you fully pay your taxes

One of the wive’s tales about taxes is that you are due a refund you can file anytime you want. Be careful, that advice might cost you thousands of dollars. California has a law on its books that says if … Continue reading

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Want to tell the FTB you are a resident of Nevada? Its probably not going to work.

Getting enticed by those radio ads promoting Nevada corporations and becoming a Nevada resident so as to save on California taxes?  Its not going to be easy. Below I posted a recent Board of Equalization case where a guy: 1. … Continue reading

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Fighting a 6672 penalty for employment taxes?

If you were the officer of a company that went belly up there is a good chance the IRS is going to come after you for the missed employment taxes.  Typically the IRS will hit you with something called the … Continue reading

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Franchise Tax Board Mission Creep

Been hiding out from the Franchise Tax Board or IRS? A few months back I posted about the FTB’s FIRM (Financial Institutions Records Match) program to track where you had your checking account.  Well, the program just expanded. Assembly Bill … Continue reading

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FTB Notices about missed installment payments

Do you have an installment plan with the franchise tax board?  If so you and 15,999 other people with installment agreements experienced a slight glitch with your December payment. Ironically the exact same thing happened last December as well. The … Continue reading

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The reason for IRS audits

How does the IRS select who is going to be audited?  Typically it comes down to the taxpayer making up outlandish figures and thinking the IRS it too dumb to know the difference. A very public case on point would … Continue reading

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Could you lose your license if you are behind in taxes?

The big news in the tax world is that New York just passed a law saying that if you owe the state more than $10,000, you could lose your drivers license. What a lot of people don’t realize is that … Continue reading

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Received a bad 1099?

Have your received a 1099 with bad information?  A 1099 that had an incorrect amount?  It certainly wouldn’t be the first time that someone issued a bad 1099. Think about it, millions of 1099s are issued each year, there are … Continue reading

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Missed Checkbox is probably going to cost millions in taxes

Worried that if you forgot to check a box the IRS or Franchise Tax Board can hit you with a bunch of penalties? Unfortunately it seems your fear is justified. A San Francisco judge recently determined that Sprint (yes, that … Continue reading

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The FTB knows all

A couple new laws were just implemented that really point out the extent to which the franchise tax board shares information with other agencies, cities, and yes, even Mexico. Take a look at the amendments to section 19551 of the … Continue reading

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