New law grants interest, penalty waivers.

• Position: From the FTB

California Revenue and Taxation Code Sec. 19444--signed into law in 2002--has given the FTB a new tool to resolve "high-risk" accounts.

High-risk accounts are those where collection of a delinquent tax liability is considered uneconomical for the state to pursue or the liability will not be paid in full within a reasonable amount of time.

The law allows the FTB to offer certain taxpayers whose accounts are considered to be high risk a full waiver of interest, penalties and fees, in exchange for full and...