The CA Franchise Tax Board has announced that approximately 3,000 Pass-through Entity Tax (PTET) payments made for tax year 2022 have erroneously been applied to tax year 2021. The error resulted in refunds being issued to the affected taxpayers. As an initial payment of the 2022 PTET was required to be made by June 15, 2022, in order for a Taxpayer to be eligible to elect for the 2022 PTET program, the affected taxpayers should resubmit the initial 2022 PTET payments as soon as possible.
Please contact a member of your engagement team to resolve this issue. We look forward to resolving this quickly to preserve your PTET election. To reach the Tax Department Administrator please dial our main line (949)450-6200 and select option 2.