Last-Minute Tax Tips from FTB – Get Ready to File by April 15, 2025

As many Californian residents may know, the annual state tax filing deadline of April 15, 2025 is right around the corner and fast approaching. FTB recently released guidance on how taxpayers may be eligible to file for free, claim cash-back credits, avoid scams, and make secure tax payments online. Free resources are available to assist tax payers to file returns quickly and securely for federal (IRS Direct File) and state (CalFile) tax returns. IRS Direct File is available to those tax payers who lived and worked in a participating state and report certain income, credits, and deductions. Currently, there are twenty-five states that offer the IRS Direct File option. Refer to the IRS Direct File website link for more information.

Californian taxpayers with income levels up to $31,950 may quality for the California Earned Income Tax Credit (CalEITC), which could provide cash back or lower any tax owed. Moreover, if eligible, Californian taxpayers with children under age six may receive up to $1,154 in Young Child Tax Credits (YCTC). Keep in mind that, beginning in tax year 2022, income is not required if all other CalEITC and YCTC requirements are met. Furthermore, the Foster Youth Tax Credit (FYTC) provides up to $1,154, starting in the 2024 tax year. For additional details on cash-back credits, refer to CalEITC.

Individual taxpayers may also be eligible for a one-time cancellation of a tax filing penalty or for paying taxes late. This is a new development and relief option for taxpayers who have complied with all tax return filing requirements, have not previously received a one-time abatement and no outstanding tax liabilities separate from the penalty under consideration for a one-time cancellation abatement. This concerns tax year 2022 forward. Refer to the FTB’s One-Time Penalty Abatement page or call 800.689.4776.

If you have any questions regarding your state and/or federal tax return(s) or received a notice from the IRS, FTB, EDD or any other regulatory agency, please call or email Wilson Tax Law Group, APLC, to setup a consultation with our firm.

Wilson Tax Law Group, APLC is a boutique Orange County tax controversy law firm that specializes in representation of individuals and businesses before federal and state tax authorities with audits, appeals, FBAR, offshore compliance, litigation and criminal defense.  Firm founder, Joseph P. Wilson, is a former Federal tax prosecutor and trial attorney for the IRS and California Franchise Tax Board.  Wilson Tax Law Group, APLC, is comprised of former IRS litigators & Special Agents, and Assistant US Attorneys from the US Attorney’s Office, Central District of California, Tax Division, which at the time handled both civil tax lawsuits and criminal tax prosecutions on behalf of the United States of America.

For further information, or to arrange a consultation please contact: Wilson Tax Law Group, APLC

Tel: (949) 397-2292 (Newport Beach Office) 

Tel: (714) 463-4430 (Yorba Linda Office)

 

Disclaimer: This blog post is for informational purposes only and does not constitute legal, tax or financial advice. Please consult with a qualified attorney, accountant or financial advisor for specific guidance related to your circumstances.