RIN PROCESS CLARIFIED.In response to complaints that FTB FTB Franchise Tax Board (California; they collect income and sales tax) FTB Family Tax Benefit (Australian welfare assistance) FTB First Time Buyer (housing) return information notices don't reflect payments made after a return is filed but before the notice is issued, the FTB has added clarifying language to its notices. The RINs now read:" ... The balance for this tax year reflects all payments or credits applied to your account through XX/XX/XX. Payments you made to us in the last 20 days, or payments you requested to be electronically debited from your bank account in the future, may not be reflected in this notice ..." The FTB mails taxpayers an RIN if there is an error on a balance-due return, such as an overstatement o·ver·state tr.v. o·ver·stat·ed, o·ver·stat·ing, o·ver·states To state in exaggerated terms. See Synonyms at exaggerate. o of an estimated tax Federal and state tax laws require a quarterly payment of estimated taxes due from corporations, trusts, estates, non-wage employees, and wage employees with income not subject to withholding. payment. If you or your client receive a RIN that doesn't reflect recent payments, you should follow the instructions on the RIN to resolve the discrepancy DISCREPANCY. A difference between one thing and another, between one writing and another; a variance. (q.v.) 2. Discrepancies are material and immaterial. . |
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