Overcharged Interest on Certain Automated CP2000 Notice of Proposed Assessments

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August 15, 2016

Purpose of Bulletin

To inform staff that FTB recently discovered we overcharged interest on certain automated CP2000 Notice of Proposed Assessments.

Background

From July 2013 through November 2014, suspension of interest did not occur on some automated CP2000 Notices of Proposed Assessments (revenue code 3482494). This overcharge of interest is limited to tax years 2010 and 2011, and impacts less than 25,000 taxpayers. The majority of interest adjustments are below $50.

Additional Information

Taxpayers do not need to request an adjustment of interest. FTB will adjust impacted accounts to reduce the interest charged on the applicable tax year(s). If amounts are owed to FTB, any overpayment will be applied to satisfy the tax liability first. If an overpayment still exists after satisfying the tax liability, one of the following actions will occur:

  • FTB will offset the remaining overpayment to any liability that the taxpayer owes to another agency.
  • If there is no liability to another agency, the State Controller’s Office will issue a refund check to the taxpayer including interest as allowed by law.

Reduction of interest on a taxpayer’s account is specific to each impacted tax year. If taxpayers have multiple tax years that qualify for an interest reduction, they will receive the FTB 3545A letterfor each impacted tax year, as well as separate refund checks, if applicable. Comments will be added to all impacted accounts.

Taxpayer Inquiries

Taxpayers with questions may contact us at 1.800.852.5711 or 916.845.6500, 7 a.m. to 5 p.m., Monday through Friday, except state holidays.

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