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Topic: Tax Relief

Tennessee State Comptroller’s Office extends Tax Relief Deadlines to May 6th

 

Montgomery County Government TennesseeMontgomery County, TN – The Montgomery County Trustee’s Office was informed by the Tennessee State Comptroller’s Office that Tenn. Code Ann. § 28-1-116 (2017), that originally covered court proceedings, now covers tax relief deadlines.

This means property tax relief and tax freeze applications that were originally due back to the Trustee’s office on April 6th have been extended to May 6th, 2020.

Tax Relief «Read the rest of this article»

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Tennessee General Assembly Passes 2018-2019 Budget

 

Written by Curtis Johnson
Tennessee State Representative

Tennessee State Representative - District 68

Nashville, TN – The Tennessee House passed several key bills this week, including the state budget and major legislation to curb opioid abuse, as the 2018 session of the Tennessee General Assembly draws to a close.  The $37.5 billion “no growth” budget proposes state government spending for the next fiscal year that begins July 1st, 2018 and extends to June 30, 2019.

The balanced budget addresses opioid abuse, school safety, teacher funding, rural economic development and job growth, while allocating additional funds for the care of Tennessee’s most vulnerable citizens.  The bill focuses on the four “e’s” of Tennessee:  employment, education, economic opportunity and enforcement of the law.

Tennessee State Representative Curtis Johnson

Tennessee State Representative Curtis Johnson

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Veterans Property Tax Relief Bill Advances

 

Tennessee Representative Joe Pitts
Attorney General Opinion regarding the use of Veterans Income in Calculating Property Tax Relief

Tennessee State Representative - District 67Nashville, TN – On February 3rd, 2016, I requested the State Attorney General Herbert Slatery to review and issue a legal opinion on the property tax relief legislation (Public Chapter 481) passed last year.

On Tuesday, March 29th, we received the following opinion from the Attorney General attached at the bottom of this article.

House Bill 1410/Senate Bill 1484 (Senator Mark Green (R-Clarksville) passed both the Senate Local Government Committee and the House Local Sub-Government Committee on March 30th.

Tennessee State Representative Joe Pitts

Tennessee State Representative Joe Pitts

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Tax Relief for Victims of April 25th Storms in Tennessee

 

Internal Revenue Service - IRSNashville, TN – Victims of severe storms, tornadoes, straight-line winds and associated flooding beginning April 25th, 2011 in parts of Tennessee may qualify for tax relief from the Internal Revenue Service.

The President has declared the following counties a federal disaster area: Bradley, Greene, Hamilton, and Washington Counties. Individuals who reside or have a business in these counties may qualify for tax relief.

The declaration permits the IRS to postpone certain deadlines for taxpayers who reside or have a business in the disaster area. For instance, certain deadlines falling on or after April 25th and on or before June 30th have been postponed to June 30th. «Read the rest of this article»

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Flood Victims Must Choose by April 18th Filing Deadline

 

Internal Revenue Service - IRSNashville, TN – The Internal Revenue Service today offered a final reminder to those affected by the 2010 floods and storms.

Those who want to seek tax relief using their 2009 federal income tax return must file or amend that return no later than April 18th, 2011. There is no filing extension available for those exercising this option.

Affected taxpayers in any of the 46 Tennessee counties declared federal disaster areas after the May 2010 floods and storms generally have the option of claiming a casualty loss on their 2009 or 2010 federal income tax return. Only those in the federally-declared counties have this option. «Read the rest of this article»

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IRS Alerts Flood Victims to April 18th Filing Deadline

 

Internal Revenue Service - IRSNashville, TN – The Internal Revenue Service today reminded Tennesseans that those affected by the 2010 floods and storms who want to seek tax relief using their 2009 federal income tax return must file or amend their 2009 return no later than April 18th, 2011. There is no filing extension available for those exercising this option.

Affected taxpayers in any of the 46 Tennessee counties declared federal disaster areas after the May 2010 floods and storms generally have the option of claiming a casualty loss on their 2009 or 2010 federal income tax return. Only those in the federally-declared counties have this option. «Read the rest of this article»

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Payroll Tax Cut to Boost Take-Home Pay for Most Workers

 

New Withholding Details Now Available on IRS.gov

Internal Revenue Service - IRSWashington, D.C. – The Internal Revenue Service today released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011.

Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act Of 2010 provides a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. This reduced Social Security withholding will have no effect on the employee’s future Social Security benefits.

The new law also maintains the income-tax rates that have been in effect in recent years. «Read the rest of this article»

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Tax relief for victims of the flood

 

Important Information regarding Tax Relief that may soon be available to Individuals affected by Flooding

New legislation passed by the General Assembly is expected to provide Tennessee sales tax relief for qualified individuals affected by the recent severe storms and flooding who must replace damaged or destroyed items. Eligible items include major appliances and residential furniture used in the individual’s primary residence with a purchase price of $3,200 or less per item, and building supplies used for restoration of the individual’s primary residence with a purchase price of $500.00 or less per item.

Individuals receiving disaster assistance from the Federal Emergency Management Agency (FEMA) as a result of the severe storms and flooding that occurred in Tennessee between May 1st, 2010 and May 8th, 2010, may request a refund of Tennessee sales tax paid on eligible items purchased between May 1st, 2010 and September 30th, 2010. «Read the rest of this article»

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