From individual tax payments due the Internal Revenue Service to a bevy of taxes levied on corporate entities, there is one thing all taxpayers can be sure of. Failure to pay taxes can eventually result in trouble for a person or company. Tax delinquency may cause collection activity, loss of … [Read more...] about Texas corporation suffers for failure to pay franchise taxes
Texas residants can appeal appraisals to reduce tax burdens
For residents and businesses of Texas, the changing value of property can impact tax burdens. During regular audits of property values, appraisers can adjust values of home and commercial buildings up or down. Though an upward adjustment can be good for resell value or equity, a large bump in … [Read more...] about Texas residants can appeal appraisals to reduce tax burdens
Extension on tax law for sales tax deduction still in question
For many residents of Texas, keeping good track of sales tax paid throughout the year usually results in a reduction of federal income tax burden. With the tax law that allows for a sales tax deduction on federal returns in question, however, residents don't know if they'll be able to take advantage … [Read more...] about Extension on tax law for sales tax deduction still in question
Can the IRS take your entire paycheck for back taxes?
When an individual owes money to the Internal Revenue Service, it can be frightening to consider the things the agency may do to collect the money. In some cases, the individual is even disputing the owed taxes while living in fear that bank accounts will be drained or pay checks taken. Though the … [Read more...] about Can the IRS take your entire paycheck for back taxes?
Tax delinquency is a problem that can be solved
Texas residents who fall behind on state or federal taxes may think their tax problems are unresolvable. The IRS and other tax agencies can be frightening when it comes to collections, sending strongly worded notices and threats to seize accounts or property. Thought delinquency is a serious issue, … [Read more...] about Tax delinquency is a problem that can be solved
Texas growth may spark state tax law changes
Texas enjoyed an 8 percent revenue growth in the first half of 2014, which is almost double the national average. While growth is good for the state, it also puts resource requirements on state funded programs such as health and education. According to a senior economist with the Dallas Fed, those … [Read more...] about Texas growth may spark state tax law changes