State seeks to return $20 million in undelivered taxrefunds
The California Franchise Tax Board is holding more than $20 million in returned income tax refunds.
This year, the U.S. Postal Service returned nearly 47,500 refunds ranging from $1 to $50,000. Taxpayers who moved after they filed their returns and failed to update their addresses are the main reason refunds are returned.
Taxpayers can update an address through the MyFTB Account feature on the Franchise Tax Board’s website. Once an address is updated, the board reissues returned refunds automatically.
Taxpayers can also prevent a delayed refund by opting for the direct deposit of their refunds into their bank accounts. Direct deposit occurs within days rather than waiting weeks for a paper refund check. This year, nearly 60 percent of taxpayers chose direct deposit, an increase of 5 percent over last year’s totals. More than $6.3 billion was directly deposited into their bank accounts.
Taxpayers expecting a state refund or unsure if they received their refund can access the Franchise Tax Board’s Check Your Refund Status online. The service is available in both English and Spanish.
As of Nov. 24, the board issued more than 10.7 million refunds worth $10.5 billion.
For more information, visit ftb.ca.gov.
