Money & Company

Tracking the market and economic trends
that shape your finances.

« Previous Post | Money & Company Home | Next Post »

Time running out to pay 2008 state income taxes

October 8, 2009 |  2:25 pm

Californians who haven't paid their 2008 state income tax have only one more week to file returns and avoid late filing penalties, the Franchise Tax Board says.

More than 1.5 million taxpayers annually take advantage of their right to take an automatic extension, paying before an Oct. 15 deadline instead of the traditional April 15 one.

Taxpayers can use the Internet to pay by going to state Franchise Tax Board and can file using either the ReadyReturn of the CalFile programs. ReadyReturn relies on wage and tax-withholding data provided by employers to easily submit simple returns. CalFile can be used by taxpayers with incomes of up to $326,379, who want to itemize deductions and apply certain tax credits.

The Franchise Tax Board suggests that fall is a good time for taxpayers to view their wage and withholding information, estimated tax payments, 1099 data and current balances. The data are available on the Internet at MYFTB account. They also can make payments by clicking the WebPay function.

-Marc Lifsher