FTB to work with IRS in campaign against tax cheats.The FTB FTB Franchise Tax Board (California; they collect income and sales tax) FTB Family Tax Benefit (Australian welfare assistance) FTB First Time Buyer (housing) has agreed to work with the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. in a campaign targeting Californians illegally evading federal taxes. The FTB will divert 30 of its examiners to help weed out the tax cheats, making it one of the first states in the nation to sign such a deal. A recent multistate mul·ti·state adj. Of, relating to, or involving several states: a multistate environmental campaign. task force estimated that California loses about $1.3 billion annually to abusive tax shelters Abusive tax shelter A limited partnership that the IRS judges to be claiming tax deductions illegally. abusive tax shelter A tax shelter in which an improper interpretation of the law is used to produce tax benefits that are . In related news, the FTB recently launched a new round of audits aimed at illegal tax shelters. |
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