Business & Real Estate

State now accepting 2015 income tax returns

The state Franchise Tax Board is now accepting 2015 California income tax returns.

FTB said this year’s filing season extends through April 18, three days beyond the traditional deadline because of a federal holiday.

FTB also noted that, starting with 2015 tax returns, California is offering its own Earned Income Tax Credit, in addition to the existing federal EITC. The Cal EITC is refundable, meaning that taxpayers will receive a refund if the credit is greater than taxes owed.

The credit is available to California households with adjusted gross incomes of less than $6,580 if there are no qualifying children, less than $9,880 with one qualifying child, or less than $13,870 with two or more children. Taxpayers can learn more about the credit at caleitc4me.org.

The U.S. Internal Revenue Service recently announced that it will begin accepting individual electronic tax returns Jan. 19. It will also begin processing paper tax returns that day.

Mark Glover: 916-321-1184, @markhglover

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