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Franchise Tax Board News
State asks homeowners to stop deducting some taxes
The California Franchise Tax Board is leaning on taxpayers and tax preparers to start complying with a widely ignored law that prevents property owners from deducting certain real estate taxes on their income tax...
Read more...Time for taxes means time for questions
With tax season getting under way, today I'll answer reader questions about property taxes, the new Medicare surcharge starting in 2013 and how to get those old-fashioned paper tax forms. Q: Tony G. asks, "Has anything...
Read more...Revenooer Rants: Nonresident challenge irks California FTB
And perhaps such was the case with taxpayer Hughes, who had moved to Tennessee, but continued his employment in California — putting up with a sizable commute.
Read more...Another tax scam from Sacramento
A tax many California property owners have not been paying now is going to be demanded of them by the Franchise Tax Board (the California Franchise Tax Board, you may not know, is the state's department of tax revenue; the name is a disguise for what these people do).You also may not know...
Read more...Local businesses owe more than $1.3 million in delinquent taxes
SACRAMENTO Two Victor Valley businesses owe more than $1.3 million combined in delinquent income taxes, according to the state Franchise Tax Board.By law, the state is required to post online a list of the 250 businesses that owe more than $100,000. The FTB's latest list had 135 names with...
Read more...Capitol Alert: Number of Californians with million-dollar incomes up sharply
The number of Californians reporting incomes of more than $1 million increased sharply last year, as did their share of the income stream, a new report from the Franchise Tax Board reveals.
Read more...Ask the Experts: Stock loss for 2000 likely too late to claim
With the April 17 tax- filing deadline just a few months away, questions about state and federal taxes are brewing. This week, IRS tax expert Jesse Weller and Daniel Tahara of the state Franchise Tax Board offer tax answers. Next week, we'll introduce a new group of local experts to answer your questions on personal finances, investing and wills/trusts.
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