Transcription of Penalty Reference Chart - FTB.ca.gov
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FTB 1024 (REV 10-2012) PAGE 1 Penalty Reference Chart Please use this Chart for Reference purposes only. We list Penalty codes by Revenue and Taxation Code (R&TC) sections and Reference comparable Internal Revenue Code (IRC) sections. These penalties reflect the law as enacted on September 21, 2011, for taxable years beginning on or after January 1, 2011. Penalty Name R&TC Section IRC Section Penalty Reason Computation Limited Liability Company (LLC) Fee Estimate Penalty 17942(d)(2) None underpayment of estimated fee. 10% of the underpayment . Exceptions - Safe harbor-100% of prior year. Tax on Joint Return Exceeds Tax on Separate Returns 18530 6013(b)(5) Tax on a joint return exceeds tax shown on separate returns, due to negligence or intentional disregard of rules, or fraud.
Underpayment of estimated fee. 10% of the underpayment. Exceptions - Safe harbor-100% of prior year. Tax on Joint Return Exceeds Tax on Separate Returns : 18530 . 6013(b)(5) Tax on a joint return exceeds tax shown on separate returns, due to negligence or intentional disregard of rules, or fraud. In lieu of penalties provided by Section 19164(a ...
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