February
2007 John Chiang sworn in as new State Controller
John Chiang becomes California's new State Controller, and the chair of the Franchise Tax Board. Read his swearing-in speech.
20 Questions - Real Estate Withholding
Interested parties representing the California Land Title Association, California Association of Realtors and California Escrow Association, and members of the Franchise Tax Board Advisory Board met on December 11, 2006 to discuss real estate withholding. Their suggestion, questions, and answers to their questions are
outlined here.
Real estate withholding - compute estimated gain or loss online
The 2007 online Real Estate Withholding – Computation of Estimated Gain or Loss form is here (Form 593-E). Just enter information like selling price, expenses, and depreciation, and it will calculate the estimated gain or loss, the standard withholding amount, and the alternative withholding amount.
2007 Franchise Tax Board Information Directory now available
Our updated Directory is available to you online, giving you the phone numbers, Webpages, email addresses, and location addresses you need to know.
Paying electronically saves your clients time
FTB offers several quick, easy alternatives to writing and mailing checks. Your clients can use Web Pay, electronic funds withdrawal, or credit card options. They can even set up an online installment agreement, and pay electronically.
FTB’s filing enforcement program in full swing
In December 2006, we began mailing the first of 800,000 Nonfiler notices. On March 5, the next part of the process begins, when we start mailing Notices of Proposed Assessment (NPA) to those persons who have not responded to their Request, or Demand for Tax Return notice by the requested date.
- California follows new IRS deadline of April 17
- We want your tax gap ideas!
- Tax News survey results
Criminal Corner
Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time.
- Federal and state audit activity
Our audit strategy of opening an audit as quickly as possible after a tax return is filed, determining the correct amount of tax, and concluding the audit quickly can become complicated when the IRS audit is conducting an audit at the same time.