Wednesday, April 16, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

State contacting businesses to file 2011 tax returns

SACRAMENTO — The Franchise Tax Board is contacting more than 90,000 California business entities that have not filed their 2011 state income tax returns.

Businesses contacted by FTB will have 30 days to file a tax return or show why there is no filing requirement. Taxpayers who do not file tax returns or demonstrate to FTB that they are not required to file will receive a tax assessment based on income and other information that was reported to FTB.

Each year FTB reviews more than 5 million income records received from the IRS, the State Employment Development Department, the State Board of Equalization, financial institutions and other businesses. FTB matches this information against its tax records to identify noncompliance. Last year, FTB collected approximately $23 million from businesses that failed to file tax returns.

The failure to file tax returns contributes to the tax gap, defined as the difference between taxes owed and taxes paid.

FTB has more information for those receiving notices at ftb.ca.gov. Click on the Businesses tab and select Notices/Collections from the left side menu. Click on Notices and then More on Bills and Notices tab. Select: Respond to request or demand for tax return. Businesses can request more time to respond, retrieve information that can assist them in filing a tax return, request tax forms, learn about payment options, sign up to receive an e-mail reminder to file, and much more. Information is also available by calling FTB at 866-204-7902.

Last year, business taxpayers filed 1.5 million tax returns for the 2011 tax year.

Franchise Tax Board

LEAVE A COMMENT

Discussion | 1 comment

  • No Free SpeechJuly 28, 2013 - 7:48 am

    This story has been up for some time, and while business should pay their taxes, people are afraid to comment on IRS or FTB sites because they do not want to be retaliated against for criticism. The Recent IRS scandal, was ongoing, way before it broke under the Obama administration. , LINK - Bill Clinton would use the IRS to destroy critics, if you recall Funny how in a so called free country, news stories like this jerk the slack out of complainers of the system! What a shame!

    Reply | Report abusive comment
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