January 27, 1991
Wilson's budget proposes reducing the renter's credit on state income tax by $50 for married couples and $25 for single renters. But homeowners are not asked to give up a penny of their tax breaks. According to Franchise Tax Board figures, the average homeowner deducts $8,000 for mortgage interest and property taxes. Using a 5% state tax rate, the average homeowner gets $400 a year in reduced taxes. Compare this with the current $120 renter credit for couples. Now Wilson wants to reduce the $120 to $70. Remember when taxes were based on the ability to pay?
September 8, 1996
In "It's Known as Identity Fraud, but by Any Name It's an Ugly Crime" (Aug. 25), the Federal Trade Commission sets forth tips for preventing identity fraud, among them not giving out your Social Security number. But California's Franchise Tax Board includes the recipient's Social Security number on the mailing label when it sends out tax forms. When I wrote requesting that my Social Security number be removed from the label, I was informed that they could not do so, but that I could write requesting that no tax forms be sent to our home.
CALIFORNIA | LOCAL
April 22, 1987 |
Candidates in 20 local elections, including Los Angeles, were chosen by lot Tuesday to have their campaign contribution and spending reports audited by the state Franchise Tax Board, the first time such extensive audits will be conducted at the local level. Los Angeles was selected second on a priority list of 20 cities, counties, school districts and special districts in the random drawing conducted by the Fair Political Practices Commission.
February 19, 1987 |
Radio listeners all over California soon will be hearing the voice of newly elected Controller Gray Davis offering them tips on filing their state income taxes. Under a $10,000 program paid for by the Franchise Tax Board, which collects state income taxes, Davis has recorded a series of public service announcements publicizing extended hours for the board's toll-free tax hot line.
CALIFORNIA | LOCAL
April 26, 1986 |
A top state tax official Friday criticized California income tax collectors' newest practice of soliciting news organizations to cover the arrests of alleged tax cheaters--some in early morning hours at their homes. "It's not the way to collect taxes," said Richard Nevins, one of three members of the Franchise Tax Board, the agency responsible for collecting state income taxes. "To get money (owed), you go out and put your liens on and you get your money.
March 4, 2013 |
SACRAMENTO -- The tax bill isn't in the mail, at least for the next 90 days. The California Franchise Tax Board, which collects the state income tax, has temporarily opted not to send out bills to about 2,000 taxpayers telling them they owe $120 million in back taxes. State tax collectors originally mailed notices in December retroactively dunning taxpayers after a court threw out as unconstitutional an investment incentive program. As a result shareholders in small businesses could be on the hook for taxes on income from the sale of stock for the years 2008-12, plus interest.
January 13, 2014 |
SACRAMENTO -- It's that time of year. California's Franchise Tax Board, which handled 16 million state income tax returns last year, is urging people who got early W-2 forms from their employers to file now for a quick refund. “The good news is they can log on to our website and file their taxes today,” said spokeswoman Denise Azimi. The biggest change for 2013 personal returns is a jump in the standard deduction for singles from $3,841 to $3,906. For joint filers it rose from $7,682 to $7,812.
April 1, 1988 |
Indicted Iran-Contra scandal figure Albert Hakim lost a round Thursday in his low-profile fight to avoid paying approximately $250,000 in income taxes he allegedly owes the state of California.
April 19, 1992 |
Q: One of my employees, a former undocumented alien, has been working for me since 1979. Until he received amnesty and a new Social Security number in 1988, he had been paying Social Security taxes for several years on a phony card. Social Security claims to have no records of those pre-amnesty payments. But I have records for nine of those last 16 years. What should I do to help my employee?
November 23, 2011 |
The most durable message from the Occupy Wall Street encampments across the nation is also the simplest: "We are the 99%. " But are the implications of that message fair? Is there a widening gap between rich and poor? Are those doing well just a fraction of the populace? In the nation, and particularly in California, the answer is yes. We are living in an era of widening inequality, with income gains concentrated at the top, and most families in the state are falling behind. New research from the California Budget Project examined data from the Franchise Tax Board and found that income gains during the last two decades were overwhelmingly concentrated among California's wealthy.