The Franchise Tax Board has announced that taxpayers affected by the retroactive personal income tax increase (Proposition 30), may pay the amount due with their 2012 tax return. Taxpayers subject to underpayment of estimated tax penalties may request relief by completing Form 5808 Underpayment of Estimated Taxes by Individual and Fiduciaries and completing Part 1, question 1 with the explanation that the underpayment is due to Proposition 30.
Proposition 30 California Tax Increase –Tax Penalty Waiver.
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- THIS JUST IN - GOOD NEWS FROM NEW JERSEY! January 18, 2017Miracles can happen! I found the following good news on the New Jersey Division of Taxation website - almost as if it were a response to the comment I made in this morning's earlier post about the NJ-NATP Famous State Tax Seminar(highlights are mine) - “NJ will continue to accept paper corporate business tax returns for the current filing year; however […]Robert D Flach