Home » CALIFORNIA » Proposition 30 California Tax Increase –Tax Penalty Waiver.

Proposition 30 California Tax Increase –Tax Penalty Waiver.

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  • EVEN MORE TO THINK ABOUT December 8, 2016
    Another tax reform suggestion. I have thought about making a change to the rules for deducting business use of a personal automobile – which would apply to both employee business expenses and Schedules C, E and F – to more honestly reflect the true economic cost of business auto use. For the most part taxpayers who use their car for business, other than comm […]
    Robert D Flach

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.


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