Franchise Tax Board

Tax NewsMarch 2007

Taxpayers may qualify for a refund of underpayment and monthly penalty
We are re-evaluating how we determine reasonable cause when returns are e-filed, and payments are sent in separately.

FTB follows IRS: permits employers to pay additional tax on 2006 stock options
FTB Notice 2007-1 creates the California Compliance Resolution Program to correspond with the federal program. Employers who plan to take part in the California Program must file a notice of intent to participate with FTB by March 15, 2007.

Estates and trusts filing requirements
Use this valuable information on taxability, residency, estates, and trusts to assist your clients when they need to file fiduciary returns.

1099 FAQs for small businesses
Almost everything you and your clients need to know about small business information reporting.

Inside FTB

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Criminal Corner
Our monthly summary on bringing tax criminals to justice, and closing the tax gap one case at a time.

The buzz on big business

  • Combating the tax gap

The personal income tax gap has gotten lots of coverage - here are some of our strategies for closing the tax gap on the corporate side.