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State of California Franchise Tax Board

Changes to 2010 Forms

Updates to the Form 540/540A Booklet on 02/15/2011—Personal Income Tax Booklet

We replaced text on the 540/540A Booklet on Page 15, instructions for line 112 (Form 540), Interest and Penalties, Late Filing of Tax Return.

Previous Version

  • Late Filing of Tax Return. If you do not file your tax return by October 17, 2011, you will incur a late filing penalty plus interest from the original due date of the tax return. The maximum total penalty is 25% of the tax not paid if the tax return is filed after October 17, 2011. The minimum penalty for filing a tax return more than 60 days late is $100 or 100% of the balance due, whichever is less.

Revised Version

  • Late Filing of Tax Return. If you do not file your tax return by October 17, 2011, you will incur a late filing penalty plus interest from the original due date of the tax return. The maximum total penalty is 25% of the tax not paid if the tax return is filed after October 17, 2011. The minimum penalty for filing a tax return more than 60 days late is $135 or 100% of the balance due, whichever is less.

Reason for the changes

To correct the amount of the minimum penalty charge for filing a late return.

Impact

This revision does not affect a taxpayer’s tax liability. However it will require the taxpayer to pay an increased amount of penalty.


Updates to the Form 540/540A Booklet on 01/20/2011—Personal Income Tax Booklet

We replaced text on the 540/540A Booklet on page 18, item two, bullet one.

Previous Version

  • $34,772 or less if single or married/RDP filing separately;

Revised Version

  • $34,722 or less if single or married/RDP filing separately;

Reason for the changes

To correct the single or married/RDP filing separately adjusted gross income limitation on the Nonrefundable Renter’s Credit Qualification Record.

Impact

This revision may increase the tax liability for taxpayers with a filing status of single or married/RDP filing separately that have adjusted gross income from $34,723 to $34,772 by disallowing them the $60 nonrefundable renter’s credit.

Back to Tax Form Changes for 2010

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