California Franchise Tax Board Launches New Version of MyFTB

This January the California Franchise Tax Board (FTB) launched a new and improved version of MyFTB.

The enhanced version is designed to allow users to view account information, communicate with the FTB via secure email and a live chat, and use the new self-service tools. Users will be able to access information 24/7 without having to call the FTB and inevitably wait.

In order to access the enhanced MyFTB, you must register by visiting the MyFTB website and clicking the register button. For those taxpayers who have used MyFTB within the last 12 months, you should have received an email notification with instructions on how to re-register. As a business representative, an FTB account can be created to manage each of the businesses represented.

The following information is needed in order to register:

• A social security number or business identity number
• A valid email
• Tax information from a tax return filed in the last five years
  • Typically: Year of the return, filing status, and California adjusted gross income or California net income or loss for businesses
    Once you have your new account, you will be able to view returns, balances, withholding and estimate payments, account alerts, notices and correspondences.

Also among the new tools for taxpayers are two ways to select and approve a power of attorney (POA). You can sign onto your MyFTB account and approve a POA declaration, or alternatively, your advisor can submit a signed copy of the POA. Once the POA is on file, your advisor will be able to directly see notices that the FTB has sent you.

Another new feature of the website is that you will be notified if a third party accesses your information. This means you will automatically receive a letter when someone, such as your advisor, uses the portal to confirm your payments to the FTB, which is necessary to ensure that you receive the proper deduction on your Federal return. This letter should not cause alarm. However, if the letter should cause any concerns, do not hesitate to send it to your advisor to confirm they are the ones who accessed your account.

Finally, if you have already scheduled your payments to the FTB you may not be able to see them, but do not reschedule your payments. They are already scheduled.

If you have any questions, please contact us at (805) 963-7811.