Tax Assessment


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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 ?
With regard to one item recorded in the minutes related to the service tax assessments in the new dispensation, there was a long discussion on the interpretation on the decision taken in the last meeting and that discussion consumed a lot of time today, Jaitley told reporters.
AppealTax.com - in an effort to empower homeowners - is now offering a completely personalized tax appeal package, including localized tax information and a selection of comparable properties with lower tax assessments.
The concern is that HMRC are not making people aware of the importance of the quality of their tax assessments.
This is because real estate tax assessments, the value upon which the tax rate is multiplied to determine the tax amount payable, will continue to rise.
Instead, it offers ideas, arguments, and methods that owners and managers may want to consider that might convince local assessment authorities to reduce specific property tax assessments.
Property owners would then pay down the government loan over 20 years from a yearly tax assessment. Theoretically the tax assessment would stick with the property even if it changed hands to a new owner, assuming deals like that survive negotiations between buyer and seller.
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.
The bill would permit a tenant to contest his landlord's property tax assessment without the owner's consent, which is now required.
The Tax Agency has decided to impose a tax surcharge of SEK493m for Klovern's request for reconsideration of the tax assessment for 2003.
(2) The defendants were convicted of violations arising from payments to Haitian officials to reduce the Company's customs duties and sales tax assessment. The court agreed with DOJ recommendations and sentenced David Kay, the Vice President of Caribbean Operations, to 37 months in prison, and Douglas Murphy, the President and Chief Executive Officer, to 63 months in prison.
There are 51 different sets of property tax assessment laws in the United States--one for each state and the District of Columbia.