CPA COLLECTIVE

FAQs

Frequently asked questions.

How do I log into my portal?

CPA Collective offers a free client portal where you can safely and securely upload documents to us without fear that an unintended recipient will access your sensitive information.  Once we set you up with access, you will receive an email from DoNotReply@cch.com (don't forget to check your spam folder).  The email will give you step by step instructions on how to log in to your portal along with a CCH Client Axcess User Guide.  DON'T FORGET TO WRITE DOWN YOUR USER ID AND PASSWORD!  Once you've successfully logged in, you will see two folders, a "To CPA Collective" folder where you will upload documents for us to retreive and a "From CPA Collective" folder where we will upload documents for you to retrieve. 

For convenience, you can also access the portal login page by visiting our website and selecting the "portal" option from the navigation pane at the top or bottom of the page.

Still have questions?  Give us a ring.


How do I pay my quarterly estimates?

There are two methods for paying your quarterly estimated taxes.  You can pay them electronically or by mailing in a check with your payment voucher. To make a payment online you will need your social security number or account number which can be located on the upper left hand corner of your voucher and identifying information such as your AGI (Adjusted Gross Income) from a prior year tax return.

Please note that California has mandatory electronic payment requirements for individual taxpayers once they:

  • make an estimated tax or extension payment over $20,000 for a taxable year beginning on or after January 1, 2009; or

  • file an original return with a tax liability over $80,000 for a taxable year beginning on or after January 1, 2009

Here are some helpful links:

 

EFTPS payment system (IRS business tax payments)

IRS direct pay (IRS individual tax payments)

FTB web pay for individuals

FTB web pay for businesses

 


What is the penalty for not paying my taxes on time?

Underpayment penalty - 

The U.S. tax system is a pay-as-you-go system. You’re usually required to make tax payments as you earn income. If you do not pay in the required amount throughout the year, both the IRS and FTB will charge an underpayment penalty that is essentially an interest charge equal to the current federal interest rate calculated from the date the installment was due.  

Failure to pay penalty -

If you do not pay your taxes by the tax deadline, you normally will face a failure-to-pay penalty by the IRS of ½ of 1 percent of your unpaid taxes. That penalty applies for each month or part of a month after the due date and starts accruing the day after the tax-filing due date. 

In addition, California imposes a late payment penalty of 5 percent of the unpaid tax as of the due date plus 1/2 of 1 percent each month, or part of a month the tax remains unpaid, not to exceed 40 months. The maximum penalty is 25 percent of the total unpaid tax


What is the penalty for not filing my taxes on time?

The IRS and FTB both assess a late filing penalty of 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25 percent of your unpaid taxes.