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State of California Franchise Tax Board

Tax News
August 2014

Report and Remit Real Estate Withholding on Installment Sales

We require withholding on the principal portion of each installment payment if the sale of California real property is structured as an installment sale as evidenced by a promissory note.  / more+

Mortgage Forgiveness Debt Relief Extended through 2013

On July 21, 2014, Governor Brown signed Assembly Bill 1393 (Ch. 152) retroactively extending California’s partial conformity to the federal income exclusion for mortgage debt forgiveness for 2013.  / more+

Your Rights as a Taxpayer

We created a new one-page publication about taxpayer rights, FTB 4058B, Your Rights as a Taxpayer. This publication provides a simple overview of some of your clients’ rights.  / more+

Free Webinar: FTB 5805 – PIT Estimated Tax Penalty

We designed this webinar to highlight the issues in completing FTB 5805, Underpayment of Estimated Tax Penalty form and offer you helpful tips to complete it for your clients.  / more+

Our Subscription Services

Would you like to receive email messages from us about topics and services important to you?  / more+

Form 3840 - The New Form for California Like Kind Exchanges

New law (R&TC Sections 18032 and 24953) creates an annual filing requirement for taxpayers who exchange properties located in California for like-kind replacement properties located outside of California under Internal Revenue Code (IRC) Section 1031.  / more+

Two Interested Party Meetings Summarized

We held two interested party meetings (IPM) as mentioned in our July 2014 edition of Tax News and wanted to let you know more about these IPMs.  / more+

Ask the Advocate

Just Because You Can, Does Not Mean You Should

Every year in California, thousands of small businesses start up. For the new business owner, one of the first critical decisions is choosing which form of ownership will best meet their business needs.  / more+

Chief Counsel Corner

Penalties and Reasonable Cause Relief

Like the Internal Revenue Service (IRS), the Franchise Tax Board (FTB) imposes penalties on personal and corporate income taxpayers when they fail to comply with their tax obligations.  / more+

Event Calendar

As part of education and outreach to our tax professional community, we participate in many different presentations and fairs.  / more+

EDR in the News

See what’s new with our new Enterprise Data to Revenue (EDR) project.  / more+

Inside FTB

Take a look at the changes happening here at FTB.  / more+

Criminal Corner

Read about our efforts to bring tax criminals to justice, and to close the tax gap one case at a time.  / more+

Chat with an FTB Representative