The California Franchise Tax Board recently updated its Top 500 Delinquent Taxpayers list, revealing that 316 individuals and 62 businesses owe the state more than $129 million in combined income taxes.
In August, the Franchise Tax Board sent letters to 500 taxpayers scheduled to appear on the list if they failed to resolve their tax debts. Prior to the list’s publication, 122 taxpayers resolved their accounts. The Top 500 list is published every April and October. Being on the Top 500 Delinquent Taxpayer list carries added provisions:
• Publication of professional license information.
• Suspension of state-issued licenses, including driver’s licenses and occupational or professional licenses.
• Prohibition of state agencies from entering into contracts with listed debtors.
• Publication of names and titles of corporate officers of Top 500-listed corporations.
The Franchise Tax Board removes a taxpayer from the list once the tax is paid or the taxpayer agrees to make payments under an approved installment agreement or offer in compromise. Tax liabilities under appeal, in litigation or in bankruptcy proceedings are not included on the list.
For more information, visit ftb.ca.gov.
