Tax Assessment

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Related to Tax Assessments: Real Property Taxes

Tax Assessment

The determination of how much a person or company owes in taxes. One usually determines one's own tax assessment by declaring one's income and capital gains from the previous year and applying the methodology the government requires to arrive at the tax liability. The government has the right to audit any tax assessment.
References in periodicals archive ?
Stephens said that condition and quality inspections are necessary as part of credible and thorough valuations and that tax assessments do not include such inspections.
During this period of declining values, real estate tax assessments continued to increase.
The majority of states employ a market value standard for purposes of establishing annual real estate tax assessments.
According to Don Lombardi, director of tax assessment services and member of the Distressed Property Services Group at Grubb & Ellis I Commercial Florida, lowering taxes can greatly improve the operating profile of a building and increase its market value.
Lindex said that it has also claimed a tax deduction totalling SEK250m for the income tax assessments relating to the fiscal years 2005 and 2006, and is awaiting a decision by the National Tax Board relating to these tax assessments.
The Kay case is the latest in a line of FCPA enforcement matters involving payments to reduce customs and tax assessments.
Make sure that no double assessments exist between the personal property and real estate tax assessments.
An amnesty penalty is imposed at the rate of 50 percent of unpaid interest on tax assessments that become final after the amnesty ending date.
Heale has worked with a number of small businesses in Espanola to deal with tax assessments, and frequently battles bureaucrats from the Municipal Property Assessment Corp.
These procedures apply to most tax assessments on and after Sept 6, 2002.
In facing these challenges, owners and managers of commercial property would be wise to evaluate their tax assessments and to consider reaching out to their local assessors in the hopes of reducing their property tax bill.
In Marvel, 719 F2d 1507 (1983), the IRS made employment tax assessments in the trade name of an unincorporated business (rather than in the names of its two individual owners).