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Plus New Legislation on Tax Return Due Dates
The FTB recently announced late. breaking news items. Highlights include:
Interest Rates: The interest rate charged by the FTB for corporation and personal underpayments of tax, and estimated tax penalties, is being increased to 4 percent as of Jan. 1, 2017. The rale was unchanged at 3 percent for the past four years.
Identity Theft Hotline: When assisting clients with identity theft issues, there's a new phone hotline for FTB mailers: (916) 845-7088. The fax number remains unchanged at (916) 843-0561. The ID Theft AJftdanl form (Horm FTB 3552) can be faxed to this number.
Expedited Corporation Revivor Processes: There's now a web-based process that allows business entities to initiate the revivor process. 'Ibis new procedure is located on the FTB's new "How Can 1 Revive My Burine« Entity" webpage (www.ftbca.gov / ljuunrsscs/faq/742xhtml). Additional information related to suspentled entities is presented on the webpage, including reasons why suspension creates disastrous effects.
There's also a new "walk-through" revivor process that can be effected at FTB field offices under certain circumstances. 'Ibis "rush revivor" process is available to suspended business entities that can prove that they have...