FTB Of CA Penalties and their meaning

AN EDUCATED TAXPAYER IS OUR BEST CUSTOMER.

We help our clients understand the ever-changing federal and state tax laws so they can maximize their tax deductions, and adopt best recordkeeping practices.

Franchise Tax Board, State of CAMany of our clients have come to us after having a bad tax preparation experience that resulted in penalties and interest.  When we come across a reference document that we feel is valuable for the taxpayer – we promote it.

We have linked to the 18-page Penalties and Interest Reference Table published by the Franchise Tax Board of California.

  1. If I pay my taxes late, what interest and penalties will I be charged?
  2. What are past and current interest and estimate penalty rates?
  3. I have an extension of time to file my return. Why did I get a penalty?
  4. I filed my return on time. Why did I get a penalty?

FTB of CA Penalty Reference ChartPenalty reference chart (pdf)