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September 07, 2008
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Welcome to Corpus Christi 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 Corpus Christi 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 Corpus Christi Taxation Lawyers are the lawyers for you.

Taxation and Tax Law related topics:

  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation
  • Corporate Taxation
  • International Taxation

Contact our Corpus Christi Taxation Lawyer Now!

 
Corpus Christi Audio & Video    
 
  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
 
 
Corpus Christi External Sites    
 
 

Hutchison Capitol Comment - Texans Split on Internet Ta
That is a problem for states like Texas that have no state income tax. "Others believe that subjecting Internet sales to a retail tax should not
Hutchison Capitol Comment - Texas Taxpayers Finally Get
The restoration of the sales tax deduction will not force Texas taxpayers to keep a shoebox filled with a year’s worth of sales receipts, unless they

 


 

  Newsroom  
 


News about Taxation cases in Corpus Christi and nationwide:

IRS Updates Tax Gap Estimates
Washington — Internal Revenue Service officials announced today that they have updated their estimates of the Tax Year 2001 tax gap based on the Na...
Read more >


Understanding the Tax Gap
The Internal Revenue Service developed the concept of the tax gap as a way to gauge taxpayers’ compliance with their federal tax obligations. The t...
Read more >


Tax Commissioner Announces Partnership With Other States In Combating Abusive Tax Avoidance Transactions
RICHMOND, VA - Tax Commissioner Kenneth W. Thorson signed a Memorandum of Understanding (MOU) between Virginia TAX ...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Depreciation and Section 179 Expense

Definition:
50% special depreciation allowance. For qualified property you acquire after May 5, 2003, you can take a special depreciation allowance that is equal to 50% of the property's depreciable basis. However, instead of claiming the 50% special allowance, you can elect to claim the 30% special allowance or elect not to claim any special allowance.

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.

Meal Expense Deduction

Definition:
Generally, you can deduct only 50% of your business-re-lated meal expenses while traveling away from your tax home for business purposes. Also, you can generally de­duct only 50% of certain reimbursements you make to your employees for meal expenses they incur while traveling away from home on business.

More Taxation Terms >

 

Tax Legal Resources

 


Search Taxation legal resources in our resource center:

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Taxation Hot Topics

 
Topics Related to Taxation Law:
  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation

More Tax Topics >

Corpus Christi Taxation Attorney

 
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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