Franchise Tax Board Implements New “MyFTB Account”

The Franchise Tax Board has implemented a new “MyFTB Account.” This replaces the old “My Account” on the FTB’s website. Back in September I saw a demonstration of the new website and I was impressed. The system shows withholding, estimated payments, 1099-Gs and 1099-INTs issued by the FTB, and allows taxpayers and their representatives access to that information. Individuals (but not tax professionals) can change their addresses using the system.

Tax professionals must register to use the system. Registration is simple and straightforward. (Individuals must also register and its also simple and straightforward.)

There is one change, though, that will impact tax professionals. You must now collect a Form 743 from your client to obtain his information.

It looks to me like the system is an improvement over the old My Account system. No more looking up Customer Service Numbers, and then reentering the same information to get the data you need. Kudos to the FTB.

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