The California Franchise Tax Board is reminding taxpayers that Monday, Oct. 17, is the deadline for filing 2021 state personal income tax returns to avoid a late filing penalty.
Each year, Californians file close to 20 million state personal income tax returns, with more than 2 million taxpayers taking advantage of the state’s automatic six-month filing extension.
As of Oct. 3, nearly 18.3 million personal income tax returns had been filed with the state, 94% of them filed electronically. So far this year, California has issued about 13.4 million refunds to individuals, totaling more than $17.5 billion.
Taxpayers can file electronically free of charge using FTB’s CalFile program [here]. E-filing provides faster refunds, increased accuracy, and immediate confirmation that FTB has received a return. To ensure a timely refund, FTB encourages taxpayers to opt for direct deposit to their bank accounts.
Taxpayers are also encouraged to make use of FTB’s electronic payment options. Web Pay allows taxpayers to authorize a payment from a bank account to cover tax return balances. Individual taxpayers can also go to their MyFTB account to securely access their tax information and to view and schedule payments.
Working taxpayers who are 18 or older and considered low income, can take advantage of the California Earned Income Tax Credit (CalEITC). Those eligible can receive up to $3,160 cash back. Additionally, those who qualify for CalEITC and have at least one child under the age of 6 may be eligible for up to a $1,000 Young Child Tax Credit. For more information, visit https://www.ftb.ca.gov/file/personal/credits/california-earned-income-tax-credit.html.
[Information via news release from the California Franchis Tax Board.]