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Welcome to Carrollton Tax Attorneys.com
Did You Know?
If you have employees, you are responsible for Federal Taxes
If you have employees, you are responsible for several federal, state, and local taxes. As an employer, you must withhold certain taxes from your employees pay checks. Employment taxes include the following. Federal income tax withholding Social Security and Medicare taxes Federal unemployment tax act (FUTA).
Tax Law is divided into both Federal Tax and State Tax, and involves the taxation of income and property acquired through personal and professional efforts. In addition to income tax, there is sales tax, gift tax, inheritance tax, capital gains tax, property tax, and a myriad of other areas of tax.
Tax collections shown for various States
Amounts include adjustments to prior years made in Fiscal Year 2004. This could produce negative amounts of collections shown in the table.However, in a given fiscal year, refunds relating to prior fiscal years may be issued and subsequently recorded, and, therefore, the total refund amount may exceed the collection amount [Money amounts are in thousands of dollars.] in Texas
Total Internal Revenue collections [2]
152,691,189
Corporation income tax [3]
17,127,574
Total [4,5]
118,410,514
Income tax not withheld and SECA tax [4,5]
20,292,504
Income tax withheld and FICA tax [4]
96,931,332
Railroad retirement tax
672,956
Unemployment insurance tax
513,722
Estate Tax
1,109,558
Gift Tax
104,214
Excise Taxes[2]
15,939,329
Source: Data 2004, Chief Financial Officer, Revenue Financial Management
Federal Income tax became law in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. While some states do not have an income tax, all residents and citizens of the United States are subject to federal income tax. The more assets an individual owns, unfortunately, the more complicated the tax law becomes.
Congress writes the tax laws, which become part of the tax code. The Internal Revenue Service (IRS) is charged with interpreting the tax code. The IRS is a branch of the U.S. Treasury Department, with headquarters in Washington, D.C., and is ruled by a commissioner appointed by the President. Regional commissioners and district directors, also political appointees, oversee IRS operations.
Our Carrollton Taxation Lawyers are willing to work for you. They can explain in detail the complex state and federal tax laws that affect you and your case. If you expect a high standard of quality from your legal representatives, then our Carrollton Taxation Lawyers are the lawyers for you.
Senate Republicans Seek End to Estate Tax
AUDIO, RM, 44Kbps, 7:08, 7/28/2005
The Senate is expected to vote this week on a proposal to repeal the estate tax. The tax has been in place for nearly a century. But times have changed and estate tax opponents are predicting victory Source: NPR
2005 Federal Earned Income Tax Credit
Earned Income Credit Amounts Increase
The maximum amount of income you can earn and still get the credit is higher for 2005 than it is for ... Read more >
Definition:
For 2004, the standard mileage rate for the cost of operating your car, van, pickup, or panel truck is increased to 37.5 cents a mile for all business miles.
Federal income tax
Definition:
The federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law enforcement, and interest on the national debt.
Acquisition
Definition:
The purchase of one corporation by another, through either the purchase of its shares, or the purchase of its assets.
If you live in the following cities and need an taxation attorney you should contact
our Taxation Attorney as soon as possible:
Alvin
Amarillo
Arlington
Austin
Baytown
Brownsville
Burleson
Carrollton
College Station
Cypress
Dallas
Del Rio
Desoto
Eagle Pass
Edinburg
El Paso
Flower Mound
Fort Worth
Friendswood
Garland
Grand Prairie
Grapevine
Harlingen
Houston
Irving
Katy
Laredo
League City
Lewisville
Mcallen
Mesquite
Mission
New Braunfels
North Richland Hills
Palestine
Pasadena
Pharr
Plano
Richardson
Richmond
Round Rock
San Antonio
San Benito
San Marcos
Seguin
Spring
Sugar Land
Victoria
Weslaco
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