Archive for Thursday, January 17, 2008
Some California tax forms contain error
The state agency that prints tax forms said a mistake on some of them could cost California taxpayers.
The Franchise Tax Board said Wednesday that early versions of Schedule CA (540), California Adjustments, tells filers to enter information from the wrong federal tax box. The form is used to make adjustments to federal adjusted gross income and claim itemized deductions.
Taxpayers could miss claiming their home mortgage interest, points, mortgage insurance premiums and investment interest, the board said.
About 2.4 million of the forms were distributed. The board said instructions in an accompanying booklet are correct.
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