Franchise Tax Board: information: tax refund deposits: tax-advantaged savings plans.

Existing law requires the Franchise Tax Board to make a refund to a taxpayer of any overpayment of taxes. Existing law authorizes the Franchise Tax Board to electronically deposit a taxpayer's refund into the taxpayer's checking or savings account. This bill would require the Franchise Tax Board to include information on its Internet Web site and taxpayer form instructions and publications, as defined, stating that on those tax returns, the individual taxpayer has the ability or option to directly deposit all or a portion of a tax refund into an account under specified tax-advantaged savings plans.