Tue07222014

Business & Real Estate

FTB holding millions in returned state tax refunds

California’s Franchise Tax Board (FTB) announced Nov. 21 it is holding more than $17 million in returned state income tax refunds. This year more than 52,000 refunds have been returned to the state, according to the FTB. Typically, refunds are returned to the state because the taxpayer changed residences after filing a tax return. Taxpayers can check their status at www.ftb.ca.gov. The “Check Your Refund” feature is available in English and Spanish. Refunds are returned automatically once a new address is received, according to the FTB. To avoid this situation in the future, FTB officials advise taxpayers to update their addresses. Another option is to use direct deposit; this year more than 5.8 million California taxpayers received their refunds through direct deposit, according to the FTB. For more information, call (800) 852-5711 or visit the FTB website.

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