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Misapplied 2017 Limited Liability Company (LLC) Annual Tax/Estimated Fee Payments

June 23, 2017

Purpose of Bulletin

To advise staff that a software issue was identified which resulted in some 2017 Limited Liability Company (LLC) annual tax/estimated fee payments to be misapplied to the 2016 tax year. In some cases a refund check was issued.

Background

We identified some tax software companies whose software incorrectly applied the account period begin (APB) on the 2017 LLC annual tax/estimated fee payments. The 2017 LLC tax/fee payments were requested with the 2016 Form 568 e-filed tax return. The APB on some LLC tax/fee payments was applied as 01.01.16 instead of 01.01.17. The account period end (APE) is correctly applied as 12.31.17.

Additional Information

The impacted taxpayers were advised to resubmit a new 2017 LLC tax/fee payment by 07.15.2017. If the taxpayer resubmits their LLC payment by this date, the LLC will not be charged penalties and interest. Effected accounts will be reviewed after the revised payment due date and applicable adjustments will be made at that time.

Taxpayer Inquiries

If you are contacted by a taxpayer who states that they received a refund, advise the taxpayer to:

  • Deposit/cash the FTB issued check
  • Submit a new LLC tax/fee payment by 07.15.17
Penalties and interest will not be charged if payment is received by 07.15.17

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