Friday, November 16, 2007

State's Top Income Tax Debtors Posted Online

From: Valley Tax Office

http://www.valleytaxoffice.com/


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State's Top Income Tax Debtors Posted Online

Public Disclosure Aimed at Reducing Tax Gap

The Franchise Tax Board (FTB) today posted the names of the largest state income tax debtors to its website at ftb.ca.gov. All 224 taxpayers whose names appear on the list were notified of the posting last month.

"Each year, California loses more than $6.5 billion in unpaid taxes,” said State Controller and FTB Chair John Chiang. “This list represents more than $249 million owed that should be used in providing all Californians with services at the state and local levels. Hopefully, this action will encourage these taxpayers to come forward, pay what they owe, and quickly help the Franchise Tax Board remove their names from the list.”

Last year’s Assembly Bill 1418 (J. Horton) requires the FTB to list the 250 largest state income tax debtors who owe more than $100,000 in tax. The law excludes taxpayers whose debts are being paid through installments, appealed, litigated, or involved in bankruptcy proceedings.

Taxpayers can have their information removed from the website by paying the amounts in full, or obtaining an approved installment agreement. FTB will update its list annually.

Individual taxpayers who receive the Notice of Public Disclosure letter indicating their information may be posted should contact FTB at (866) 418-3702. Business taxpayers should call (866) 914-5594.

The Board of Equalization has a similar list of the state’s top sales and use tax delinquencies.

Editors Note: View the Largest State Income Tax Delinquencies List

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