Tax News
February 2008

More real estate legislation

Recent statistics reported on mortgage defaults reveal the depth of California’s problem. California lawmakers have also introduced legislation that would target questionable practices and loopholes in current real estate law, and require face-to-face meetings between mortgage servicers and borrowers. / more+

Correction to the 2007 California Schedule CA (540)

FTB warns taxpayers of error on Schedule CA (540) that could lead taxpayers to miss claiming their home mortgage interest, points, and investment interest. / more+

Looking back – how we did in 2007 compared to 2006

The percentage of Personal Income Tax returns filed electronically compared to paper filing continues to move up steadily. For Business Entity returns, the ascent in percentage points is dramatic – a 364 percent increase over 2006. / more+

Looking ahead - what’s new in 2008

Some of the changes to keep in mind this filing season – rounding cents to dollars, repeal of the Teachers Retention Credit, no Customer Service Number needed for Web Pay, and more! / more+

Notes from the Tax Practitioner Stakeholder Specialist

  • Filing season underway
  • Changes on the horizon / more+

Inside FTB

  • FTB tax refunds worth nearly $10 million go unclaimed
  • Nonresident entertainment withholding agents - free workshops in February / more+

Criminal Corner

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