California Revenue and Taxation Code 20824 – If the deferment claim is filed timely, then any delinquent penalties …
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If the deferment claim is filed timely, then any delinquent penalties and interest for that fiscal year shall be canceled unless the failure to perfect the claim was due to willful neglect on the part of the claimant or his or her representative. In the event of such willful neglect, any property tax deferment subvention payment may be used only if it is accompanied by sufficient amounts to pay the delinquent interest and penalties.
(Added by Stats. 2011, Ch. 369, Sec. 3. (AB 1090) Effective January 1, 2012.)
Terms Used In California Revenue and Taxation Code 20824
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.