Tax Assessment Questions
What is tax assessment?Tax assessment is the process of determining the value of any taxable property. There may be many aspects of tax assessment that may be difficult to understand. Given below are some important questions about this that have been answered by the Experts.
Can an individual file his/her tax returns after the IRS completes a proposed individual income tax assessment?In most situations, the IRS may not include all credits and deductions into a proposed individual income tax assessment. Therefore, the individual may be able to file his/her returns even after the assessment is done. The individual may give the IRS a copy of their returns so that they can update his/her records.
Is there a statute of limitations on tax debt in the state of Maryland?The statute of limitations on tax debt in the state of Maryland is 10 years from the date when the assessment was made.
What is the statute of limitations on assessment of tax in the state of Louisiana?The statute of limitations for the assessment of taxes in the state of Louisiana is 3 years from the day the tax return was filed.
What does tax assessment date mean?The tax assessment date is the date on which the IRS determines the individual’s tax liability. The liability may depend on whether the tax was filed on time which is April 15th of the year, whether it was filed late or was not filed at all.
What is the statute of limitations to collect taxes in the state of California?The statute of limitations to collect taxes in the state of California is 20 years from the date of tax assessment.
When is a tax assessment carried out?In most situations, a tax assessment is carried out when an individual owes taxes to the IRS.
Can the IRS levy tax that was due in the past?The IRS may be able to levy tax that was due in the past only if it makes an assessment of the tax, demands a payment from the individual and the individual refuses to pay the tax.
Can an individual appeal a tax assessment in the state of Virginia?If an individual wants to appeal an income tax assessment in the state of Virginia, he/she may first send a letter of protest within 90 days of receiving the assessment. If his/her letter is approved, they may inform him/her and release the tax refund. If the individual does not hear back from the IRS after 45 days of sending the protest, he/she may contact them on the number that is given on the tax assessment notice and check with them about the status of his/her request.
Tax assessment can be difficult to understand at times. You need to know what the rules are and what procedures are followed when assessing an individual’s tax liabilities. You should also be aware of your rights regarding tax assessment. You can ask an Expert if you have any questions or need more information.