When your business owes a tax liability, the Franchise Tax Board is charged with the collection of the debt and will reach out to you to recover the debt. The FTB wants their money, and you can bet that they will not simply give up because you can’t pay, or they cannot get a hold of you. Unfortunately, if you fail to make payments on time, the FTB can assess further penalties and fines, which can cause your tax liability to continually increase.
If you have been contacted by the FTB, it is important that you hire a professional tax team to help you navigate the situation. The FTB has a strict set of rules that they must follow, and you will find that they are not sympathetic to your situation, whatever it may be. It is vital that all taxpayers understand and follow the rules set forth by the FTB to avoid issues, but sometimes, it is not always that easy, as the rules can be confusing.
At Leading Tax Group, we are here to support you and assist you no matter the tax situation you find yourself in. Our team is known for providing some of the best Franchise Tax Board representation in San Diego and we can represent you too. Reach out to our team today to schedule a free consultation with us.