SB 375: Income taxation: timeliness penalty: abatement.

This bill, for taxable years beginning on and after January 1, 2018, would require the Franchise Tax Board, upon request by an individual taxpayer, to abate a failure-to-file or failure-to-pay timeliness penalty if the taxpayer was not previously required to file a California personal income tax return or the Franchise Tax Board has not imposed a timeliness penalty in the year of the request or prior 4 years, the taxpayer has filed all required returns as of the date of the request for abatement, and the taxpayer has paid, or is in a current arrangement to pay, all tax currently due.