5 Things to Know About California State Tax Laws

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5 Things to Know About California State Tax Laws
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Tax Deadline - Apr 18, 2023
As of 2023, the 18th of April is considered the
tax day. It is the last date, or the federal
deadline, meant for submitting federal income tax
returns of 2022. The fact is, if you want some
more time to submit your income tax return, and
need an extension, this is the very date that you
request it using Form 4868.
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Tax Software is there to Help
The entire process of taxation is complex indeed.
People often tend to get confused with numbers.
And a slight mistake in filing may even lead to
expenses behind penalties. But now, you can make
use of tax software to help you with your state
taxes. Although there is a processing fee that
this software might charge, still it is a better
option as there would be no room for errors.
TaxAct, Turbotax, TaxSlayer, etc., are such
software that can help.
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California Offers Tax Payment Plans
This is a striking feature if you are a
Californian resident, or are a tax-payer based in
California. If you owe the state taxes, and your
total payable tax amount for the year is less
than 25,000, California state has payment plans
settled for you! They would charge a fee against
which they would give you a time frame of 3 to 5
years to pay your total tax bill. Other than
this, if you want to simplify your tax amount
calculation, make sure to hire a Los Angeles tax
accountant.
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California Offers Compromise Programs
If you are seriously in a condition that has made
you unable to pay your tax debt, you can always
subject yourself to the compromise program of the
California Franchise Tax Board. This compromise
program of the Californian state tax department
allows a person to pay taxes less than the amount
that they owe to the state government. However,
there is a range of regulations and policies that
only a Los Angeles tax accountant can make you
aware of.
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30-Day Delay
If you are in a situation where your funds are
lacking, but your tax submission deadline is
knocking at the door, you can request an
extension of time. This extension that the
Californian Franchise Tax Board allows, is a
30-day delay within which you can freely pay your
due taxes and be free from the tension. But also
remember, that this 30-day delay request is a
one-time offer, which you cant avail of twice.
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Thank You