Humble couple paid $17,000 to file taxes after they allegedly owed $30,000; how did it happen?
The Penas claim Tax Doctors, LLCโs assessment found the Humble couple owed the IRS $30,000. Their tax preparer told them they would receive up to $20,000 in refund but must first pay the company $17,000 to file.
โI learned my lessonโ: Colorado man loses $2K by same ghost tax preparer that also left Houston residents empty-handed
A man from Denver, Colorado reached out to KPRC 2 after his friend shared one of our reports on two Houston-area women out thousands of dollars after trying to complete their taxes.
โIt makes me angry and scared for other peopleโ: Warning from woman scammed while getting taxes done
Two Houston-area families are out thousands of dollars after hiring someone to complete their taxes. As tax day approaches KPRC 2โฒs Rilwan Balogun has a warning for everyone to double-check whoโs preparing their taxes even if they advertise as being local.
Why Shohei Ohtaniโs heavily-deferred contract could be model pro athletes ask for going forward
Ohtani has decided to defer $680 million of the contract until after his playing days are over, meaning heโll take in roughly $2 million of salary each year for the duration of the contract that will run through 2033.
Tax preparer gets 12 years for illegally filing tax returns to purchase Bentley and Maserati; owes $1.9M to government
A Houston woman has been sentenced to 12 years in federal prison following her convictions on seven counts of aiding and assisting in preparing false tax returns, the United States Department of Justice announced Tuesday.
A property tax deal has eluded Texas lawmakers. Hereโs where things stand at the start of another special session.
Top Republicans promised property tax cuts, but have been locked in standoffs on how to achieve it. Gov. Greg Abbott has called another overtime legislative session in hopes of solidifying a plan.
Texas House votes to repeal sales tax on menstrual products and diapers
The bill, which Democrats have been pushing for years, has become a top priority after the overturn of Roe v. Wade. The Senate has already passed the bill, which would provide tax relief on the purchase of menstrual products, diapers and other child care necessities.
Have tax questions? Houston experts are taking calls until 6:30 p.m. to provide answers
KPRC 2 Community is partnered with BakerRipley and Telemundo Houston to host a tax help phone bank on March 30 until 6:30 p.m. Volunteers are standing by to take calls in both English and Spanish. The phone number to call is 713-778-8920.
The Texas House and Senate differ on how to cut property taxes. Hereโs what their proposals say.
Cuts to school property tax bills. Bigger tax benefits for homeowners. A controversial idea to limit property tax growth. Hereโs what you need to know about the brewing property tax debate at the Texas Legislature.
Dealing with IRS delays: What is being done to help backlogs
We are right in the middle of tax filing season for 2022. Still, millions of returns from previous years are still not processed. The backlog is impacting a lot of people, including one Houston woman who called our KPRC 2 Investigates team for help.
Dealing with IRS delays: What is being done to help backlogs
We are right in the middle of tax filing season for 2022. Still, millions of returns from previous years are still not processed. The backlog is impacting a lot of people, including one Houston woman who called our KPRC 2 Investigates team for help.
Ask Amy: Finding a tax preparer you can trust
As you look to get your taxes done this year, we have a warning. There are fraudulent tax preparers who set up shop with the goal of stealing from you. Often people who are victims of these fraudulent tax schemes donโt know it until months later when they never get a refund. Not only is your money gone but thieves have your important personal information.
Analysis: Property tax relief that doesnโt lower your tax bill
Texas lawmakers tried to lower property tax bills during their 2019 session, and a new report says they put a dent in the problem: Taxes arenโt rising as quickly as they would have. But they didnโt solve it: Property taxes are still rising.
Analysis: Texas governmentโs favorite local tax
State lawmakers will tell you they hate property taxes as much as anyone. But the state itself doesnโt levy the tax โ local governments do. And lowering it in a meaningful way would require state officials to raise taxes or cut programs. For them, talking about it is easier than doing something.
65 or older or disabled? This is what you need to know property tax deferral
Texans who are age 65 or older or who are disabled as defined by law may postpone paying current and delinquent property taxes on their homes by signing a tax deferral affidavit at the Harris County Appraisal District Office.
How to protest your property appraisal and lower your taxes
By now, most homeowners have received property tax appraisals in the mail. If your jaw hit the floor when you opened yours, you should protest your homeโs market value with your county appraisal district. Here are some ideas to get your appraisal and your property taxes lowered.
If you collected unemployment in 2020, you get a tax break
HOUSTON โ If you collected unemployment in 2020, you could get a bigger tax refund. Usually, when you collect unemployment, you have to pay federal income tax on that money. This year, you do not have to pay taxes on $10,200 of those benefits if you earned less than $150,000. Mary Bynum emailed consumer expert Amy Davis, writing, โI collected unemployment in 2020 and filed my return and received my refund in mid-February. On the IRS website, the agency explains what forms you should use and file if you are doing your taxes yourself to get the tax break.
Free federal tax prep: This is what you need to know, how to check whether youโre eligible for PVAMUโs assistance program
FILE - This Wednesday, Feb. 13, 2019 file photo shows part of a 1040 federal tax form printed from the Internal Revenue Service website, in Zelienople, Pa. Tax filing season will start a bit later and look a bit different this year. Thats because the pandemic that defined 2020 has seeped into tax time as well. If you worked from home, received a relief payment, took on some gig work or filed unemployment benefits _ or someone filed a fake claim in your name _ there are things you need to be aware of. Likewise if you normally receive certain tax credits. The IRS will begin accepting tax returns on Feb. 12, 2021.
Is it time to switch to paying quarterly taxes? Hereโs when to decide, and how to get it done
Thereโs one day each year that sticks out to American taxpayers everywhere, and this year is April 18: Tax Day. But to another group of people -- the ones who make quarterly payments -- there are three other times a year to pay up.
3 ways to handle unemployment benefits when it comes to income taxes
For those who turned to unemployment benefits last year, with tax season upon us, you might be wondering how itโs all going to shake out when it comes to filing your income taxes. But hereโs the thing: You still have to pay federal taxes on said unemployment benefits. It ensures you wonโt have that burden later, giving you a head start when tax season approaches. Pay quarterlyIf you didnโt have your taxes withheld, another option is to send quarterly estimated taxes on that money to the IRS. When quarterly taxes are due:When you get paid Tax due date Jan. 1โMarch 31 April 15 April 1โMay 31 June 15 June 1โAug.
Tackle your taxes: How to lower your property tax and even get money back
If you own the home where you live, you should have a homestead exemption applied to your account. It will lower your property taxes by 20%. The more your house is worth, the more youโll save on property taxes. Why your homestead exemption could go awayEven though we think we can set it and forget it, there is one reason why the homestead exemption can fall off and stick you with a much higher property tax bill. They presume that youโve moved out.โAtkins says the appraisal district will cancel your homestead exemption without alerting you.
Tackle your taxes: These are all of the places you can get your taxes done for FREE
Free tax centers to help individuals and families with their tax returns are usually bustling this time of year. Thanks to COVID, those volunteer tax services had to change up their routine. Help is still available, but this year, but you'll have to make an appointment with one of these organizations.
Tackle your taxes: This is how to get your missing stimulus money
Stimulus checks: When you can expect to get your moneyHOUSTON โ If you know you qualified for the most recent stimulus payment but you never received it, the IRS says you will receive it when you tackle your taxes. Input the amount of money you received for the second economic impact payment, plus any amounts you received for dependents. If you donโt normally donโt file taxes, but are owed stimulus money, fill out the โnon-filersโ tax return form. Good newsIf you received a larger stimulus payment than you should have, the IRS will not take it back. You will get your refund back quicker than if you send your return in by snail mail.
Tackle your taxes: Tax breaks and credits for self-employed and gig workers
Fortunately, there are some COVID tax breaks and credits for people who fall into those categories. The form is for folks who earned money but didnโt pay taxes on those earnings. AARP volunteer tax preparer Bart Hatfield says those workers should have put aside some money to pay those taxes. AdYou will owe taxes on your unemployment benefitsLook out for your 1099 if you collected unemployment. You will owe taxes.
Tackle your taxes: Keep more of your money with new COVID tax rules and credits
By now, you should have received all of your 2020 tax statements and documents. You should know there are some things you can do when you file your taxes to keep more money for you and your family. You can use that to your advantage because this year, the IRS will let you use the income that gets you a larger earned income tax credit. If you are eligible for the EITC, the more money you make, the higher the credit you will get. If you had a higher income in 2019 than in 2020, you can use your 2019 income to get the higher amount in the EITC the child tax credit.
The IRS has made changes to the tax bracket -- hereโs what it will mean for you
Earlier this week, the IRS announced the 2021 tax year annual inflation adjustments for more than 60 tax previsions. Those include tax rate schedules and other tax changes. The following are the 2021 tax rates, which will be used when filing taxes in 2022 for the previous year of income. Taxpayers with lower incomes with have lower federal tax rates. Click or tap here to learn about more changes that have come with tax inflation adjustments for tax year 2021.
Fort Bend County announces reduction in property tax rate
RICHMOND, Texas โ Fort Bend County Judge KP George announced Tuesday that county residents would see a reduction in the 2020 property tax rates. According to George, the rate was lowered to $0.424967 per $100 from last yearโs rate of $0.4447 per $100, which is a significant improvement from the 2000 rate of $0.624 per $100. George said the county tax rate is a small percentage of residentsโ overall taxes and the reduction is still not enough to get people the relief they need. In order to get proper relief, George said property appraisals โ which were calculated in January โ must be reverted to 2019 levels. Residents can use an online portal to see detailed tax rate information for their area.
Hereโs how the top tax preparation softwares stack up against each other
The clockโs winding down on the extended tax season, and for those who might have procrastinated, weโre here to fill you in on your options, so you can decide for yourself which tax preparation service is best for you. With the help of Consumers Advocate, weโve provided a comprehensive list for you. Click on the following company names to learn more about how the services they provide stack up: Jackson Hewitt | TaxPoint | Taxbrain | OnePriceTaxes.
Ask 2: How do I pay property taxes, register my vehicle while the tax assessors office is closed?
The coronavirus pandemic led to the closure of the Harris County Tax Assessors Office in March. The appropriate forms are available on the Tax Office website at www.hctax.net. Box 4089Houston, TX 77210-4089Auto in-person downtown tax office appointmentsThe office began a pilot appointment system this week. These appointments are being conducted at the downtown Harris County Tax Office. Voter registration cards in English, Spanish, Vietnamese and Chinese are available for download by visiting the Tax Office website at www.hctax.net.
Didnโt file taxes? Hereโs how you can get your stimulus check faster and electronically
Direct deposit is the preferred method for the government to issue the money, but paper checks will be mailed eventually as well. Many Americans do not file taxes or havenโt updated their banking information since the last time they filed. [RELATED: Will people on Social Security receive coronavirus stimulus money?] The IRS must print and mail paper checks to Americans who did not file taxes electronically. They should start receiving their checks after April 24, when about $30 million in paper checks are scheduled to be mailed out.
New stimulus registration site helps Americans who donโt file taxes get check faster
HOUSTON โ If you are one of 10 million Americans, who are not required to file an income tax because you didn't earn enough, there is a new way to sign up for a stimulus check. TurboTax partnered with the IRS to create the stimulus registration webpage, which debuted Saturday. Americans can submit their current direct deposit information or mailing address to the site. The IRS is expected to begin sending direct deposit payments as early as April 9. If you are a social security recipient, you will receive your stimulus money the same way you receive your benefits.
Income tax filing deadline moved to July 15: What does it all mean?
WASHINGTON โ The income tax filing date has been pushed back from April 15, to July 15, Treasury Secretary Steven Mnuchin said late last week. Mnuchin announced the decision in a tweet Friday, saying that at President Donald Trumpโs direction, โWe are moving Tax Day from April 15 to July 15. The delay is available to people who owe $1 million or less and corporations that owe $10 million or less. It is expected that many states will follow the lead of the federal government and delay their tax filing deadlines as well but that will be a state by state decision. The administration is working with Congress to develop a $1 trillion support package and Mnuchin has said the IRS payment delay will add $300 billion to that effort.