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Perspective

Aug. 8, 2012

Franchise Tax Board gets more 'FIRM’ about collecting delinquent taxes

New legislation gives the California Franchise Tax Board more tools to identify accounts of delinquent tax debtors held at financial institutions doing business in California. By By Joseph P. Wilson and Joyce E. Cheng of the L


By Joseph P. Wilson and Joyce E. Cheng


New legislation authorizes the California Franchise Tax Board (FTB) to operate and administer a Financial Institution Records Match (FIRM) that utilizes automated data exchanges to identify accounts of delinquent tax debtors held at financial institutions doing business in California. See California Revenue and Taxation Code Section 19622.


Current state law authorizes the FTB to use, among other tools, an Order to ...

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