I am a bit puzzled why the California FTB sent me a letter saying I had $700 other income from last year‘s taxes. Wondering why the notice didn’t come from the IRS and why they don’t just ask for the amount they need. I can’t find any difference than what I filed last year. I’d rather just pay and be done with it.
I filed my tax return a little bit ago, and received a refund from the IRS and California. Now evidently I'm going to get a letter from the franchise tax board of california. What might that be- cause for concern?
I don't understand why they send me this? can anybody help me l don't speak american 🦅
Hi. I recently received a letter from the FTB saying I made a mistake on my 2023 tax return. They claim I miscalculated my CA adjusted gross income on my CA (540). The difference between their calculation of my CA AGI (which was higher) and mine was exactly the amount of capital loss I had subtracted from my income on my CA (540). So I can only conclude that they had some kind of problem with me reporting that loss. But I don't know why. I took that loss on my federal 1040 and have not found anything in the CA instruction booklets that would disallow reporting a capital loss. Does anyone have a clue as to what's going on? I've tried contacting FTB via phone, but it's virtually impossible to get ahold of anyone. Thanks for any input!
I received a notice of balance due from the California Franchise Tax Board for $1,645. $1,505 as the prepayment tax assessment and $140 for underpayment penalties.
However, I paid the $1,505 back in February. I have the confirmation number. I've been trying to call the FTB but have been unable to connect with anyone for the past 3 days.
Should I make the $140 payment online and just forget about it? The payment is due on 5/29. I requested to open an account but am waiting on a pin number that will arrive via mail after this date so I can see my payment history online.
This is the first year I've had to file with California as an S-Corp so I'm new to all this.
Any help would be greatly appreciated!