This year’s list of the top 250 delinquent taxpayers who owe the California Franchise Tax Board $100,000 or more in income tax is now available here. By the time they make it on the list, a tax lien has already been recorded.
Before making it to the list, the FTB sends the taxpayer a certified letter with a return receipt requested. The letter provides information about how to avoid being placed on the list. Here are the options:
• Pay the liability in full
• Establish an installment agreement
• Enter into an Offer in Compromise
• Substantiate a bankruptcy filing
The largest amount owed is $9,940,513.49 and the smallest amount is $217,909.17.
Negotiate a tax resolution with a qualified tax lawyer. Call attorney Mitchell A. Port at (310) 559-5259 for help.