08 Apr Ca State Tax Installment Agreement
Companies that are indebted to FTB can also make a staggered payment contract over the phone, but it is more complicated and more documents are needed. For more information, please visit the FTB website at www.ftb.ca.gov/online/installments_bus.shtml. If you are not eligible for a staggered payment, taxpayers may consider contacting a licensed tax professional who has experience with the Franchise Tax Board. In particular, a licensed tax professional can check his financial situation, his tax situation and determine all available options. If you request a staggered payment, an application fee of $34 will be added to your tax balance. If your application is accepted, you will receive a notification with your monthly payment date and amount. If you do not make this first payment within 30 days, you will terminate your temper contract and you will have to expect further recoveries from the FTB. In deciding whether to accept a compromise offer, the government will consider your full financial vision, including all the assets or real estate you own, your current income and potential for future income, your monthly expenses and whether your finances are likely to improve in a year or more years. If you owe FTB more than $25,000, you should call the green number and request an FTB 3567 financial registration form. This form is also available online if you want to complete it before your call. Once you have completed the financial institution, call the green number and negotiate your own interim payment plan. If you do not make arrangements to refund your taxes, the state will issue a pledge. This 10-year public registration gives the state a right to your property.
If you do not act once a pledge has been deposited, your wages, accounts, real estate and vehicles can be confiscated to satisfy your tax debt. If you request a payment plan (contract to temper), your application can take up to 90 days to be processed. As a general rule, you have up to 3 to 5 years to pay off your balance. The first thing you need to do is pay your installation fee. You will then be on your way to monthly payments until your tax bill is fully supported. It is recommended that you prepare all tax returns in a professional manner to ensure that you can meet the state`s requirement to file all future income tax returns in a timely manner. In addition, you must pay all future income taxes within the allotted time. You may be able to apply online if you meet the criteria. However, you should speak to a tax advisor if you already have a current contract, salary add-on, bank levy or other collection transaction.