What California taxpayers need to Kknow for the 2024 tax filing season (2024)

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Sacramento - The California Franchise Tax Board (FTB) kicked off the 2024 tax filing season by providing taxpayers with important information on cash-back tax credits, disaster loss relief, and the advantages of filing electronically.

Taxpayers must pay any taxes owed by April 15 to avoid penalties. The FTB started accepting state tax returns this month. Last year, California had an unusually long filing season due to the state’s record-breaking winter storms.

“The FTB recommends taxpayers gather their tax records ahead of time to help facilitate a smoother tax filing process," said State Controller and FTB Chair Malia M. Cohen. "I encourage Californians to take advantage of the FTB's online services, including filing their taxes electronically and choosing direct deposit to a bank account for a quicker refund."

Improve your tax filing experience this season with these tips and reminders:

Avoid Phone Delays and Find Your Answers Online

We recommend taxpayers use our online self-service options to avoid potentially long delays when contacting FTB by phone. These resources are available 24/7.

Last year, millions of taxpayers visited our website. Taxpayers can benefit from the following self-service options: check your refund status, make a payment, should you file?, what form should you file? and view our processing and wait times.

In 2023, Web Pay received almost 2.5 million visits, and our Check Your Refund application had over 5.4 million requests. We hope these resources will help more Californians get the information needed quickly and easily.

One-Time Penalty Abatement Relief

For tax year 2022 forward, taxpayers may be eligible for a one-time penalty abatement. Taxpayers must comply with all tax return requirements, have not previously been granted abatement, and have no outstanding tax liabilities to request this penalty relief. FTB started accepting one-time penalty abatement requests last year. For more information, visit ftb.ca.gov.

E-file for Faster Refunds with Direct Deposit and use CalFile for FREE!

CalFile allows most Californians to e-file their state tax returns with FTB quickly, easily, and for free, with real-time confirmation that we received them. CalFile is a safe and secure way to file taxes and ensures the fastest refund. Head to FTB’s CalFile page to e-file today! Visit www.ftb.ca.gov/calfile for more details.

California Earned Income Tax Credit (CalEITC), Young Child Tax Credit (YCTC) expansion, and the new Foster Youth Tax Credit (FYTC)

Are you aware of the California Earned Income Tax Credit (CalEITC), the Young Child Tax Credit (YCTC), and the Foster Youth Tax Credit (FYTC)? These credits, which can provide cash-back or lower any tax you might owe, are available to Californians with incomes up to $30,950 for CalEITC and up to $30,931 for YCTC and FYTC. CalEITC can be worth up to $3,529, while YCTC and FYTC can be up to $1,117. Individuals earning less than $63,398 may also qualify for the federal EITC. Your family could receive up to $12,076 from CalEITC, YCTC, and the federal EITC.

You can claim CalEITC, YCTC, and FYTC by filing a state tax return, and make sure to file a federal return with the Internal Revenue Service to get the federal EITC. To take advantage of these valuable credits and learn more, visit www.ftb.ca.gov/caleitc.

Tax Relief for Disasters

Taxpayers affected by a disaster declared by the President can claim a deduction for disaster loss. They can make this claim when filing an original or amended tax return. Free copies of tax returns are available to disaster victims whose returns were lost or damaged. To receive free copies, use Form FTB 3516 and write the name of the disaster in blue or black ink at the top of the request. To view a complete list of all disasters declared in California, please refer to the chart on FTB's disaster loss webpage.

Free Tax Help and FTB Service

Taxpayers in California can get free help with their taxes through the Volunteer Income Tax Assistance (VITA) program. To find a list of VITA program locations, visit ftb.ca.gov and search for "free tax help." Additionally, taxpayers can use the MyFTB service to view their tax documents, check balances due, send secure messages to FTB staff, and more.

Additional Reminders

Please remember to gather all your tax documents for the year 2023 and keep them together in a safe place. This will help you prepare your tax records before you file your taxes and avoid any errors that could cause delays in processing. By doing so, you will be in the best position to file an accurate tax return. When filing a tax return it is essential to ensure the correct, most up-to-date contact information, such as address and phone number, are listed on your return. Having your bank account information up-to-date is crucial to avoid any unwanted complications with your direct deposit. Do not let incorrect details delay your refund - take the time to verify this information before submitting your return.

Taxpayers should be aware of scams and take measures to protect themselves. Scammers often impersonate IRS or FTB employees and try to trick taxpayers into sending money or providing personal information. Scammers use personal information to file fraudulent returns and steal refunds. If you receive a suspicious letter from FTB or the IRS, you can contact FTB at 800.852.5711 or the IRS at 800.829.1040. Concerned taxpayers can also check the FTB Letters page or Understanding Your IRS Notice or Letter for more information.

FTB administers two of California’s major tax programs: Personal Income Tax and the Corporation Tax. FTB also administers other non tax programs and delinquent debt collection functions, including delinquent vehicle registration debt collections on behalf of the Department of Motor Vehicles, and court–ordered debt. Annually, FTB’s tax programs collect more than 70 percent of the state’s general fund. For more information on other taxes and fees in California, visit: taxes.ca.gov.

What California taxpayers need to Kknow for the 2024 tax filing season (2024)

FAQs

Who is eligible for inflation relief for qualifying California individuals in 2024? ›

To be eligible, you must have filed your 2020 tax return. You must be eligible for the CalEITC or have filed your taxes with your Individual Taxpayer Identification Number (ITIN). You must have resided in California for at least half of the 2020 tax year and reside in the state on the date payments are issued.

What is the standard deduction for California 2024? ›

If you plan to itemize deductions, enter the estimated total of your itemized deductions. If you do not plan to itemize deductions, enter the standard deduction for your filing status: $5,363 single or married/RDP filing separately.

What is the minimum income to file taxes in California in 2024? ›

So as long as you earned income, there is no minimum to file taxes in California.

What are the tax changes for 2024? ›

Standard Deduction Changes for 2024

For tax year 2024, the standard deduction for married couples filing jointly rises to $29,200, an increase of $1,500 from 2023. For single taxpayers, the standard deduction rose to $14,600, a $750 increase from the previous year.

How do I know if I qualify for California inflation relief? ›

Residency: You must have lived in California for more than half of the year 2020. Identification: You must have used an Individual Taxpayer Identification Number (ITIN) when filing your taxes. Income Limits: Your total California Adjusted Gross Income (AGI) must not exceed $75,000.

Who does not qualify for inflation relief checks? ›

The highest-earning Californians are not able to collect on this inflation relief program. For individual filers, the income limit is $250,000. For couples filing jointly, heads of household or surviving spouses, the limit is $500,000.

At what age is social security no longer taxed? ›

Social Security can potentially be subject to tax regardless of your age. While you may have heard at some point that Social Security is no longer taxable after 70 or some other age, this isn't the case. In reality, Social Security is taxed at any age if your income exceeds a certain level.

Do seniors still get an extra tax deduction? ›

IRS extra standard deduction for older adults

For 2024, the additional standard deduction is $1,950 if you are single or file as head of household. If you're married, filing, jointly or separately, the extra standard deduction amount is $1,550 per qualifying individual.

What is the standard deduction for 2024 for over 65? ›

2024 standard deduction for 65 or older

The additional standard deduction for people who are 65 or older is $1,950 for single filers or heads of household, and $1,550 for married couples filing jointly.

How much can you make and not file taxes in 2024? ›

Or the sum of $400 + the person's earned income, up to the Standard Deduction for an unclaimed single taxpayer. This amount is $13,850 in 2023 ($14,600 in 2024).

Why is my tax return so low in 2024? ›

If a taxpayer refund isn't what is expected, it may be due to changes made by the IRS. These changes could include corrections to the Child Tax Credit or EITC amounts or an offset from all or part of the refund amount to pay past-due tax or debts. More information about reduced refunds is available on IRS.gov.

How much can a retired person earn without paying taxes in 2024? ›

Unless your combined income for 2024 is less than $25,000 (less than $32,000 for married couples filing jointly), a percentage of your Social Security payments will be subject to income tax.

What are the new IRS rules for 2024? ›

For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.

How to get a $10,000 tax refund in 2024? ›

How to Get The Maximum Tax Refund in 2024
  1. Review common tax deductions and credits. If you have a child or dependent, you may be eligible for a tax break by claiming the Child Tax Credit (CTC). ...
  2. Claim your business expenses. ...
  3. Make sure you use the right filing status. ...
  4. Contribute to your IRA or HSA.
Mar 14, 2024

Who is eligible for the stimulus check in 2024? ›

To qualify, you: Cannot be claimed as a dependent on someone else's U.S. tax return. Must have a valid Social Security number. Must meet income limits in your 2021 tax return: up to $75,000 for single filers, $112,500 for heads of households and $150,000 for joint filers.

Who is eligible for the inflation Reduction Act? ›

Qualifying buyers are limited to individuals with a modified adjusted gross income (MAGI) less than $75K (or $150K for joint filers). Qualifying vehicles must have a MSRP of less than $25K, weigh less than 14,000 pounds, and be at least two years old (model year must be at least 2 years older than the year of sale.)

What is the inflation Reduction Act tax credit for 2024? ›

Beginning in 2024, taxpayers have the option to transfer this tax credit as a “point of sale rebate” by a dealership to directly lower the price of the vehicle by the credit amount at the time of purchase.

Will people on Social Security get California inflation relief? ›

An individual who relies exclusively on social security or disability as their income, and therefore had a CA AGI or $0 in 2020, will receive $350 if they do not claim a dependent, or $700 if they have at least one dependent, according to the Franchise Tax Bureau. Couples filing jointly will receive even more.

Can you claim a stimulus check in 2024? ›

However, if someone had not claimed their stimulus checks, they still could upward of three years later. The deadline for qualifying taxpayers who lived in the U.S. during 2020 was May 17, 2024.

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