California Apparently Postpones Penalties for Failure to Comply with the New E-Pay Requirements

by

Via Spidell

Spidell has reported that the California Franchise Tax Board will NOT assess penalties if a taxpayer subject to the new mandatory e-pay requirements pays by check instead of electronically during 2009.

The law currently states that 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 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
  • – Filed an original return with a tax liability greater than $80,000 for a taxable year beginning on or after January 1, 2009
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