The return of ReadyReturn
At its December 4, 2006, Franchise Tax Board meeting, our three-member board unanimously approved reinstating the ReadyReturn program for the 2007 tax year, for tax returns filed in 2008. We pilot-tested this program during the 2005 and 2006 processing years. During the pilot, eligible taxpayers received a completed return that showed taxes owed to, or the refund due from the state. When we surveyed taxpayers who participated in the ReadyReturn program, 96 percent said they were satisfied with the program and would use it again.
We compute the ReadyReturn based on wage and withholding information we receive from employers. Taxpayers can choose to accept the calculations and sign the completed return we sent, or perform their own calculations and file using a traditional method.
Eligible taxpayers who choose to participate in the permanent ReadyReturn program will "opt-in" by accessing and filing their completed returns through our Website. Taxpayers can also request a paper ReadyReturn by phone, and have it mailed to them.
To be eligible for ReadyReturn, a taxpayer must:
- Be a single, full-year resident.
- Have income from wages only.
- Have only one employer.
- Claim only the standard deduction.
- Have no dependents.
- Claim no credits.
We estimate that the universe of taxpayers eligible to participate in ReadyReturn is approximately one million. During the coming filing season, we will market ReadyReturn in our tax booklets, on our Website, through our Voluntary Income Tax Assistance program, in other statewide public assistance programs, and through the media.