Dealing with a California FTB Levy can be a stressful issue. With so much to consider and to try and put in place, it becomes increasingly challenging to manage taxes and similar issues. For example, if you find yourself facing a potential Franchise Tax Board – FTB – levy, then you need professional assistance waiting to help you out.
This means getting in touch with a reputable and trusted tax preparer who can take a look at your situation. Any good CPA will be able to spot a solution for you, making it much easier to plan and prepare the next stage of your situation.
Are you facing an FTB levy? If so, you should be looking for professional help and assistance right away.
This is a problem that many people need to deal with, and having a CPA there to assist is a vital component to getting help with a levy. Franchise taxes can fall behind in your list of priority payments and when this happens, before long you’ll find yourself dealing with an expensive payment scheme. Making sure that you continually pay off your FTB fees every quarter is very important, as otherwise you will have some pretty irritating problem to deal with – and a large bill.
Avoiding Strict Penalties
Unfortunately, the FTB tend to be very strict regarding a lack of payment of your taxes. They won’t be too happy if you just flat out ignore payments, and will be pretty hard on you when the time for compensation comes along. They use strict and very clean guidelines as to how they will deal with your case – and it’s never usually in your favor.
To avoid this damaging issue, you need to make sure you have someone onside to help you with this. Hiring a CPA is going to be your best bet to deal with this issue. The FTB are simply too vast and too extensive to be able to take them on yourself.
This can become a time consuming and expensive battle, so having a CPA helping out can be a major bonus for you. To help combat the case, you should try and provide a CPA with everything from your records of property tax and 1031 exchanges to your Capital gains and losses, as well as your vehicle records.
All of these factors can be used to help combat the levy, but we cannot stress how important having professional assistance can be. FTB levy battles are arduous, but an accountant can assist.