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FTE Tax Credit Adjustments

Possible Reasons for Adjustments to Flow-Through Entity Tax Credit

In addition to following the applicable steps to remedy an adjustment, if the amount of credit you are eligible to claim differs from the amount you claimed on your original return, file an amended annual return. Include all documentation to support your credit and applicable schedules.

Follow instructions on any notice you receive. Notices of refund adjustment, intent to assess, or final assessment offer appeal rights, which you may wish to preserve as directed on those notices. For further information, read State Tax Hearings and Appeals. In many cases, the flow-through entity may be in the process of addressing adjustments to its return or payments. Your adjustment may not be resolvable, if appropriate, until the flow-through entity completes its process. Consider preserving your appeal rights.

The webpages below indicate the type of income tax return to which the reason for adjustment may apply.

Income Tax Return Adjustments to Flow-Through Entity Tax Credit