Board approves FTB Tax Gap Strategic Plan
The three-member Franchise Tax Board unanimously approved the FTB Tax Gap Strategic Plan at the December 4, 2006, Board meeting. The plan outlines the composition of the tax gap, based on federal estimates. The good news is that 86 percent of taxes owed are paid voluntarily:
Of the remaining 11 percent that is owed but not paid, 58 percent is attributable to income under-reporting (individuals and businesses):
The plan describes two broad approaches for shrinking the gap - one "soft," and one enforcement-oriented. These approaches will help us achieve the six goals outlined in the plan, which are supported by tactical and strategic initiatives.
See the announcement on our Website homepage at www.ftb.ca.gov to access Tax Gap Plan: A Strategic Approach to Reducing California's Tax Gap.
|On December 6, 2006, the IRS presented FTB Executive Officer Selvi Stanislaus (pictured here) with the 2006 Commissioner’s Award. The award from the IRS Commissioner recognizes excellent work in federal/state initiatives, and specifically recognizes the contributions made by the joint IRS/FTB Tax Gap team in boosting enforcement of the tax laws. See related article “Board approves FTB Tax Gap Strategic Plan” in this issue.|
Tax News survey results
Thank you! Many of you responded to the survey we issued on December 1, 2006 - we received more than 1,100 responses. Your feedback is essential to us. We need and want to know what you think about Tax News, and how we can get better at bringing you information and news you can use. We particularly appreciate the many comments you offered, which give us specific ideas for improvement. For example, several of you indicated that you would like Tax News to be available in PDF, so you can print the entire document at once. Tax News is available in PDF, and we have been including a link to the PDF version in our monthly emails to you. We are making the link more prominent, beginning with this issue. Stay tuned for a brief summary of our survey results in the February issue of Tax News.