Tax News
2012 Filing Season

Personal Income Tax Returns

The 2012 filing season has been another busy one for us. As of May 17, there were more than 14 million current-year personal income tax returns filed, which is up slightly compared to the same time last year. Electronic filing continues to increase, with nearly 12 million returns received so far this year. Of the returns received, more than 82 percent have been electronically filed. This is up two percent compared to the same time last year.

Business Entity Tax Returns

Business returns came in steadily too, with nearly 800,000 business tax returns filed; this is roughly one percent lower compared to the same time last year. Conversion to electronic filing is up; almost 50 percent of all business entity returns were filed electronically. This is an increase of 10 percent from the same time last year.

Electronic Services

As the year progresses, do not forget to take advantage of our electronic services that are always available, no waiting.

Access your individual or business clients’ MyFTB Account information. To use this application, login with your user name and password, and enter your clients’ secrets (information you already have). You should obtain your clients permission to view their tax account information using our new form, FTB 743, Online Account View Access Authorization. Keep the authorization form signed by you and your clients for your records. Do not mail the form to us.

Paying electronically means your clients do not have to spend time writing and mailing a check. It also ensures that their payments are quickly applied to their account. We encourage them to use one of the many options on our website for electronic payments. Your clients can schedule their estimated payments up to one year in advance or subscribe to our estimated tax payment email reminder service to never miss a due date.

Your business entity clients can make online payments too. Corporations, limited liability companies (LLC), and partnerships use information from their most recently filed tax return to register for Web Pay. They can schedule payments up to one year in advance. It is free and easy.

Finally, if your clients need help with a tax bill they can now apply online to get themselves into an installment agreement with us. For more information, go to ftb.ca.gov and search for installment agreement.

Back to June 2012 Tax News