Travis H. Long, CPA, Inc. Blog

Originally published in the Cedar Street Times

June 14, 2013

Clip this out and save it in your tax file…did you know you (or your authorized tax professional) can get easy, instant, online access to a wealth of information about your California tax account as an individual or a business?

One of the most common issues I use this for as a professional is to confirm estimated tax payments when a client is uncertain how much they paid throughout the year.  This can often save a lot of time searching through bank statements or checkbooks.  Of course, the best practice is to track the information yourself to make sure the Franchise Tax Board (FTB) posted it to your account, but sometimes life does not fit within a nice, square box.  To the credit of the FTB, I have found they do a pretty good job of tracking estimates paid, however, so I feel it is pretty reliable.

You can also see the past four years of your wage and California tax withholdings reported to the FTB by your employers. This would be great if you misplaced a W-2 and could not get access to it for some reason.    If the FTB issued any 1099s to you for tax refunds or interest income, you can see that information for the past three years as well.  Another feature is the ability to look at a summary of the core information of your tax returns for the past ten years such as total tax liability, taxes withheld, payments and credits, plus any interest, penalties, or adjustments made on the account.  The system will also tell you if you have any outstanding balances still owed from the past ten years.

Besides historical tax reporting information you also have the ability to perform a variety of functions.  For instance, you can change your address and telephone number, or you can check on the current status of your refund.  You can also pay your tax balance or make estimated payments via direct bank transfer, Western Union, or credit cards (a fee applies for credit card payments).  So no filling out vouchers and making unnecessary trips to the post office, and you have instant confirmation that the funds have been credited.

There are also quick links to key information on topics like penalties, interest, common fees, etc., as well as links to common forms to fill out and mail in such as applying for an installment agreement if you owe tax.  Hopefully, some of these other processes will become automated online in the future as well.  Another nice feature is that you can sign up for e-mail reminders to pay your estimates, for example.

To gain access to this information, you can set up an account online at http://www.ftb.ca.gov.  Look for the link to “Access MyFTB Account” and click “Register.”

As telephone hold times seem to get longer and longer, having access to more information online is definitely handy.  There are a lot of areas I could criticize the FTB about, but I think this is definitely a positive service they are providing.  It also functions pretty much like any other commercially designed site online.  I only wish the IRS had something as user friendly!  They do have an electronic system for tax professionals to gain access to information, but I think it was designed when dinosaurs roamed the earth.

Prior articles are republished on my website at www.tlongcpa.com/blog.

IRS Circular 230 Notice: To the extent this article concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

Travis H. Long, CPA is located at 706-B Forest Avenue, PG, 93950 and focuses on trust, estate, individual, and business taxation. He can be reached at 831-333-1041.