When Texas residents owe back taxes and do not work with the Internal Revenue Service to resolve the matter, their paychecks can be garnished until the amount due is paid. The IRS usually sends taxpayers five letters before it takes steps to garnish their wages, and...
The IRS has a "Taxpayer Bill of Rights" that protects taxpayers in all states, including Texas. This document preserves the ability to dispute any IRS decisions and even initiate legal proceedings if necessary. Taxpayer rights Every US taxpayer has ten rights granted...
If you're a taxpayer in Texas, the prospect of a tax audit may be unsettling. But what exactly is a tax audit, and what can you expect? What are tax audits? A tax audit examines your tax returns and financial records to verify that the information reported is accurate...
An IRS audit can be stressful and time-consuming, but if you believe the audit's outcome is incorrect, you have the right to appeal. Here's a step-by-step guide for Texas taxpayers to appeal their IRS audits. Request a meeting with the IRS auditor Before officially...
Dealing with IRS debt can be stressful and overwhelming, but several options are available to resolve the debt and get back on track with your finances. Texas taxpayers can use one of the following ways of fulfilling any obligations they have with the IRS. Payment...
If federal tax authorities believe that you made an error on a recent return, that return may be selected for an audit. An audit is a more thorough review of the information used to calculate income, determine the size of a capital loss or to claim deductions in a...
Failing to pay business taxes in full and on time in Texas can harm your finances, damage your company's credit, and even jeopardize your personal and business assets. Undoubtedly, it is a bad sign that paints you as a risky borrower when applying for a small business...
If you owe money to the IRS, they are going to want that money back with interest and penalties. However, there may be a way to reduce your tax bill in Texas, even if you can't pay it in full. Understanding IRS penalties and interests The IRS charges penalties if you:...
With no state taxes in Texas, it is one less thing to worry about when filing taxes. But, you might wonder if you need to file taxes or are exempt from taxes this year. Some people mistakenly do not file taxes. So here are some of the reasons that people do not file...
Employers in Texas are responsible for calculating their own share of taxes, deducting the correct amount of taxes from their employees' wages, depositing the payments and filing returns with the federal, state and local government entities. When some of the taxes go...
