The CA FTB is contacting more than 100,000 California business entities that have not filed their 2010 state income tax returns. (FTB News Release (June 14, 2012)) When a business is contacted, they will have 30 days to either file or show why no return is due. Otherwise, the FTB will assess tax based on the information reported to them from other agencies.
The FTB annually matches more than five million state income records against records received from the IRS, the EDD, the BOE, financial institutions, and city business tax information.
More information is available, such as how to request an extension of time to respond and what payment options are available, at www.ftb.ca.gov or by calling (866) 204-7902.
We urge business taxpayers who are seeking professional tax assistance to contact our tax firm for a free & confidential consultation at 877-788-2937.
We specialize in representing taxpayers that are in need of tax problem resolution, such as unpaid taxes, unfiled delinquent tax returns, tax audits and effectuating tax settlements.