Best Tax Attorneys in Carrollton

FAQs

• Where does the Tax Court hold trial sessions closest to Carrollton, Texas?

  The United States Tax Court holds trial sessions in Courtroom 726 on the 7th floor of the Earle Cabell Federal Building and United States Courthouse, located at 1100 Commerce Street in Dallas, Texas.

• Where is the low-income taxpayer clinic that is closest to Carrollton, Texas?

  The low-income taxpayer clinic that is closest to Carrollton, Texas, is the Legal Aid of Northwest Texas, LITC, located at 100 W Campbell St, Ste 100, Carrollton, TX 75006.

• What problems may occur with sales and use tax collection in Carrollton?

  Businesses in Carrollton that do not collect sales taxes or keep records of their transactions may face legal trouble. They can be held liable if they collect sales taxes but use them for other expenses instead of paying them to the government. Texas law requires businesses to collect sales and use taxes on the sale of goods and services, and businesses that fail to do so can be subject to penalties.

• What tax transactions in Carrollton must be reported to the IRS?

  Transactions in Carrollton that are similar to those that the IRS has determined to be used for tax avoidance purposes must be reported. The IRS also requires reporting of transactions that have the potential for tax evasion, even if there is not enough information to definitively determine that they are being used for that purpose. Other reportable transactions are those offered under conditions of confidentiality or with the right to a full or partial refund of fees if the IRS does not allow tax benefits.

• Can you be held criminally liable for avoiding taxes in Carrollton?

  No, tax avoidance is a legal practice of structuring personal affairs and business transactions to maximize benefits within the limits of the law. A taxpayer in Carrollton who has the specific intent to report or overstate deductions on their business and personal income taxes or payroll returns in order to get benefits may be held criminally liable.

• What actions constitute promoting tax shelter in Carrollton?

  Promoting tax shelter in Carrollton involves organizing arrangements or investment plans affecting taxes or participating in selling them, whether directly or indirectly. Individuals who express qualifying fraudulent or false statements about the ability to allow credits or deductions, exclude income, overstate gross value, or secure other benefits are also considered to be promoters.

• What issues may arise regarding conservation easements in Carrollton?

  Conservation easement is a legal agreement allowing statutory income tax deduction for individuals who donate their rights of ownership to preserve land or buildings for future generations. Issues may arise when the reserved property rights are inconsistent with the conservation purpose or when donors do not comply with subordination rules or substantiation requirements. To qualify for such, property owners must provide adequate documentation and evidence of perpetuity in the terms of the deed.