State holding more than $14 million in un-returned state income tax refunds
The Franchise Tax Board (FTB) announced it is holding more than $14 million in returned state income tax refunds.
“I want to make sure all taxpayers receive their refunds and as quickly as possible,” said State Controller John Chiang, who chairs the FTB. “This is an easy way update your contact information and get the refund before the holiday season.”
This year nearly 48,000 refunds, ranging from $1 to $35,000 were returned by the U.S. Postal Service. Taxpayers who moved and failed to update their addresses are the main reason refunds are returned.
Updating an address is easy through the Access MyFTB Accountfeature on FTB’s Website. FTB reissues returned refunds automatically once a new address is received.
Taxpayers expecting a state refund, or unsure if they received their refund, can access FTB’s Check Your Refund Status. This service is available in both English and Spanish.
FTB encourages taxpayers to use direct deposit when filing their tax returns. Direct deposit is a fast and secure method to receive your tax refund within days rather than waiting weeks for a paper refund. This year, more than 6 million California taxpayers received more than $6.2 billion directly into their bank accounts through direct deposit.
As of Nov. 29, FTB issued more than 10 million refunds worth nearly $10 billion.