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Fort Worth Tax Law Blog

IRS reminds taxpayers of the Taxpayer Bill of Rights

The Taxpayer Bill of Rights (TBOR) is more than just a guideline to better ensure employees of the Internal Revenue Service (IRS) treat taxpayers fairly. Congress officially added the rights to the Internal Revenue Code (IRC).

This means the IRS Commissioner is tasked with ensuring all IRS employees act in accordance with these rights.

Tax preparers: Be on the lookout for this new scam

Tax season is upon us, which means tax scammers are ramping up their tactics to take advantage of tax payers throughout the country. The Internal Revenue Service (IRS) often sends out warnings about scams in an effort to better protect the public from becoming a victim. One specific scam the agency has voiced concerns about involves an attempt to gain information from tax preparers.

The agency specifically called out tax preparation professionals in a recent publication. The publication notes that this scam will attempt to gather data from “compromised” tax preparers’ offices. 

Super Bowl winnings provide a lesson on state taxes

The Super Bowl is more than just a big football game. In addition to taking part in a prestigious game, players are also putting in another day at work. With this day at work comes earnings — and with work earnings comes tax obligations.

Super Bowl players and winnings

Texas sales and use tax may soon apply to online transactions

The sales and use tax results in funds for the state to use towards road construction, education and other government services. Various studies show that the amount of revenue collected through this tax is not nearly as large as it should be if it were a true reflection of items purchased within the state. The culprit for this disparity: the internet.

Online shopping has grown in recent years. The convenience of purchasing goods on one’s computer in the comfort of one’s own home has translated to large amounts of money shifted from the brick and mortar stores of yesterday to the online marketplace. 

IRS issues guidance on revocation of passport for unpaid taxes

Falling behind in tax obligations can lead to more than just fines — it can result in the revocation of your passport. The Internal Revenue Service (IRS) recently published some guidance on this penalty, noting the agency has the authority to deny or revoke passports to those who are delinquent in tax payments.

How does the IRS have this authority? The Fixing America’s Surface Transportation (FAST) Act granted this power. 

Texas tax return preparer accused of fraud

The Internal Revenue Service (IRS) keeps a close watch over tax preparers. IRS-Criminal Investigation agents are on watching for professionals who fraudulently inflate deductions or attempt to take unallowable credits. IRS agents work to gather evidence to build a case against those who are accused of committing fraud within this profession.

A recent case provides an example.

TX man gets ten years prison time for evading motor fuel tax

The Texas Comptroller’s Criminal Investigation Division (CID) recently arrested a Texas man in Florida. The man faced accusations of motor fuel tax fraud, tampering with physical evidence and credit card abuse. The accused was convicted for these crimes and faces a sentence of 10 years of prison time for tax fraud and an additional two years of prison time for credit card fraud and $10,000 in fines.

Texas Comptroller’s Office has stated that it intends for the severity of the penalty to deter future offenses. Comptroller Glenn Hegar stated that he hopes the case “serves as a lesson to would-be criminals who think breaking tax laws will only amount to a slap on the wrist.” 

Reduction in corporate tax rate in U.S. leads to global change

Governments can increase their revenue by bringing businesses into their countries. One way to do this: reduce tax rates. This is a move President Donald Trump has put into play here in the United States, but the U.S. is not the only country that has positioned itself to be more lucrative to businesses throughout the world.

Here’s a quick breakdown of other countries that are fighting for business interests globally:

Two ways the new tax law impacts multinational businesses

President Donald Trump was able to keep his promise before taking leave for the holidays. He signed the tax bill presented by Congress into law. This new tax law has resulted in many changes to the tax system in the United States. These changes extend to impact individuals and businesses alike. One particular area of interest involves businesses that operate in multiple countries. 

The out-of-state offices of Texas Comptroller auditors

It might come as a surprise, but the Texas Comptroller maintains audit offices in several other states. Remote locations are in Los Angeles, New York City and Tulsa. Why are the auditors on the move?

This is all part of an effort to collect unreported sales and use tax revenue for the state coffers. Field auditors are able to conduct business audits in these other states. They also focus on implementing programs that improve tax compliance.

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