In making a deficiency assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against penalties and against any interest on an underpayment.
Cal. Rev. & Tax. Code § 12426
Deficiency Assessments
Added by Stats. 1961, Ch. 740.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.