The Texas Tax Amnesty Program runs from May 1, 2018, through June 29, 2018. The Texas Tax Amnesty Program will, under certain circumstances, provide delinquent taxpayers with relief from penalties and interest on tax due. Tax amnesty applies to periods prior to Jan. 1, 2018, and only includes liabilities that have not been previously reported to the Comptroller’s office. It does not apply to accounts which have been certified to the Office of the Attorney General; accounts which are presently in litigation; periods that are currently under audit or for which a notice of audit has been issued; or accounts that have been reduced to judgment. Additionally, the amnesty doesn’t apply to local motor vehicle tax, IFTA taxes, PUC gross receipts assessments or unclaimed property payments. Visit the Comptroller’s Tax Amnesty Webpage for frequently asked questions, full program guidelines and promotional materials for download.
Of all the things that I dislike in helping taxpayers with their taxes and IRS issues is dealing with the IRS. They are a bureaucratic abyss that is difficult to navigate even for those of us who understand tax law and the process. Taxpayers are held to certain deadlines for addressing IRS letters and audits, yet the IRS usually takes months and,…Read More
As you read this the 2017 tax filing season will be winding down for those who file timely without filing an extension. If you file an extension, my best advice is to get your taxes finished in May, June or July when you and your tax professional are not too busy. Don’t wait for the last minute as that is when mistakes…Read More
When Congress reached a budget deal on February 9, tucked away in the bill were surprise tax breaks for homeowners, students and energy savers. Those tax breaks are the extenders, or provisions that expired at the end of 2016 but have been extended through 2017. Yes, the tax breaks are retroactive to January 1, 2017, and affect the tax return that you…Read More
So, you’ve joined the gig, or sharing, economy, making money by renting out rooms via Airbnb, giving strangers a ride in your car, or taking on chores that another person doesn’t want to do. This is a great way to make a little money on the side or full time. The one thing that will trip up many of you is keeping…Read More