The California Franchise Tax Board (FTB) has begun contacting more than 35,000 companies that did business in California in 2007, but failed to file a California corporation franchise or income tax return for that year. Businesses contacted by the FTB will have 30 days to file their delinquent tax return or show why one is not due. If no such action is taken, the FTB will issue a tax assessment that may include penalties and fees.
The FTB annually reviews more than 5 million income records from government agencies and financial institutions, and matches them against tax records filed to determine whether some businesses have yet to file. Businesses receiving notices from the FTB may obtain more information by calling the FTB at 866-204-7902. Callers should be prepared to provide their 15-digit notice number.
News Release, California Franchise Tax Board, September 14, 2009
If you owe back taxes to the CA FTB, or the IRS, please call Mike Habib, EA to know your options to resolve your tax matters. You can reach Mike Habib at 877-788-2937.