Some Clarification on the New California Invidividual EFT Payment Rules

by

Via Spidell Publishing

All payments made by an individual on or after January 1, 2009, regardless of taxable year or amount, must be remitted electronically to the FTB after the individual either:

 
• Has made a single estimated tax or extension payment greater than $20,000 for a taxable year beginning on or after January 1, 2009; or
• Has filed an original return with a tax liability greater than $80,000 for a taxable year beginning on or after January 1, 2009. (AB 1389 (Ch. 08-751); R&TC §19011.5)

 

What is EFT? Taxpayers may make the required EFT payment by:


• FTB’s Web Pay;
• Electronic funds withdrawal (EFW) when e-filing;
• Telephone (available approximately July 2009); or
• Credit card.

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