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Audit for major U.S. energy company CenterPoint after accusations it’s overcharging customers $100M a year
Read full article: Audit for major U.S. energy company CenterPoint after accusations it’s overcharging customers $100M a year“We can look at how they evaluate customer needs for where the mobile generation needs to go, including looking at their emergency operation plan and how it deals with this,” PUC Chairman Thomas Gleeson said.
Houston tax preparer admits to falsifying returns, resulting in over $100K in losses
Read full article: Houston tax preparer admits to falsifying returns, resulting in over $100K in lossesCourt records claim Guevara admitted to placing $26,857 in fake business losses that resulted in a tax loss to the U.S. of $13,390 on that return. He took responsibility for $123,458 in losses to the IRS and will be paying that back as restitution.
Texas Republicans have tried to rein in property taxes for five years. Has it worked?
Read full article: Texas Republicans have tried to rein in property taxes for five years. Has it worked?Texas has spent billions of dollars to drive down property taxes. Many homeowners saw a significant tax cut last year, per a Texas Tribune analysis.
IRS office to frustrated Houston taxpayers: We’re not staying open late
Read full article: IRS office to frustrated Houston taxpayers: We’re not staying open lateThe Internal Revenue Service Taxpayer Assistance Center in southwest Houston closed unexpectedly Saturday, leaving hundreds of Houstonians in need of last-minute help with their taxes... stranded.
H&R Block resolves issue that briefly prevented desktop software users from e-filing tax returns
Read full article: H&R Block resolves issue that briefly prevented desktop software users from e-filing tax returnsH&R Block has addressed that it’s experiencing an issue that has prevented some desktop software users from e-filing their tax returns on Monday.
IRS leaves hundreds of last-minute filers stranded at Texas office
Read full article: IRS leaves hundreds of last-minute filers stranded at Texas officeThe Internal Revenue Service Taxpayer Assistance Center in southwest Houston closed unexpectedly Saturday, leaving hundreds of Houstonians in need of last-minute help with their taxes... stranded.
Houston IRS building reopens after stranding hundreds 2 days before Tax Day
Read full article: Houston IRS building reopens after stranding hundreds 2 days before Tax DayThe Internal Revenue Service Taxpayer Assistance Center in southwest Houston closed unexpectedly Saturday, leaving hundreds of Houstonians in need of last-minute help with their taxes... stranded.
Houstonians concerned after IRS building closes unexpectedly days before Tax Day
Read full article: Houstonians concerned after IRS building closes unexpectedly days before Tax DayMonday is Tax Day and today, the Internal Revenue Service Taxpayer Assistance Center in southwest Houston closed unexpectedly, leaving hundreds of Houstonians in need of help with their taxes stranded.
Ghost tax preparer scam: Humble couple overcharged $17,000 to file taxes
Read full article: Ghost tax preparer scam: Humble couple overcharged $17,000 to file taxes🔍 Check out this shocking tax filing story! A humble couple paid $17,000 to file their taxes, only to discover they allegedly owed $30,000 to the IRS. 😱 How did this happen? #TaxFiling #IRS #ScamAlert
Humble couple paid $17,000 to file taxes after they allegedly owed $30,000; how did it happen?
Read full article: Humble couple paid $17,000 to file taxes after they allegedly owed $30,000; how did it happen?The Penas claim Tax Doctors, LLC’s 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.
‘I learned my lesson’: Colorado man loses $2K by same ghost tax preparer that also left Houston residents empty-handed
Read full article: ‘I learned my lesson’: Colorado man loses $2K by same ghost tax preparer that also left Houston residents empty-handedA 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.
Texans have expanded tax filing choices with the introduction of Direct File
Read full article: Texans have expanded tax filing choices with the introduction of Direct FileAs tax season reaches its peak, taxpayers in Texas and 11 other states have a new, hassle-free option to file their taxes: Direct File.
‘It makes me angry and scared for other people’: Warning from woman scammed while getting taxes done
Read full article: ‘It makes me angry and scared for other people’: Warning from woman scammed while getting taxes doneTwo Houston-area families are out thousands of dollars after hiring someone to complete their taxes. As tax day approaches KPRC 2′s Rilwan Balogun has a warning for everyone to double-check who’s preparing their taxes even if they advertise as being local.
Why Shohei Ohtani’s heavily-deferred contract could be model pro athletes ask for going forward
Read full article: Why Shohei Ohtani’s heavily-deferred contract could be model pro athletes ask for going forwardOhtani has decided to defer $680 million of the contract until after his playing days are over, meaning he’ll take in roughly $2 million of salary each year for the duration of the contract that will run through 2033.
Fort Bend voters will decide on tax rate that will generate $35M for pay raises and security officers at schools
Read full article: Fort Bend voters will decide on tax rate that will generate $35M for pay raises and security officers at schoolsThe Fort Bend Independent School District is one of the highest achieving districts, but school officials say the starting pay for teachers is the lowest in the area.
IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork
Read full article: IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperworkMost taxpayers will be able to digitally submit a slew of tax documents and other communications to the IRS next filing season and the agency plans to go completely paperless in 2025.
Gov. Greg Abbott signs $18 billion tax cut package for Texas property owners
Read full article: Gov. Greg Abbott signs $18 billion tax cut package for Texas property ownersAt a time when the state has some of the nation’s highest property taxes, the initiative was a cornerstone of his 2022 reelection campaign.
Tax preparer gets 12 years for illegally filing tax returns to purchase Bentley and Maserati; owes $1.9M to government
Read full article: Tax preparer gets 12 years for illegally filing tax returns to purchase Bentley and Maserati; owes $1.9M to governmentA 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. Here’s where things stand at the start of another special session.
Read full article: A property tax deal has eluded Texas lawmakers. Here’s 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.
Some conservatives’ long-term goal in property tax fight: get rid of school taxes altogether
Read full article: Some conservatives’ long-term goal in property tax fight: get rid of school taxes altogetherGov. Greg Abbott has thrown his weight behind the idea being pushed by an influential conservative think tank. Many school leaders are worried.
Tax expert shares what you need to know about IRS Fresh Start program and if you should enroll
Read full article: Tax expert shares what you need to know about IRS Fresh Start program and if you should enrollIdeal Tax highlights how the IRS Fresh Start program works, if you're eligible, and what else you need to know
TribCast: The conservative plan to eliminate school property taxes in Texas
Read full article: TribCast: The conservative plan to eliminate school property taxes in TexasOn this week’s episode, we speak to the Texas Public Policy Foundation’s James Quintero, who has been at the center of the debate over property taxes this week.
Late deal sends new economic incentives for businesses to governor
Read full article: Late deal sends new economic incentives for businesses to governorAfter the previous, widely criticized program expired in December, lawmakers worked hard to craft a plan that won overwhelming support in both chambers.
Texas House votes to repeal sales tax on menstrual products and diapers
Read full article: Texas House votes to repeal sales tax on menstrual products and diapersThe 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.
Economic incentives clear Senate committee as negotiations continue
Read full article: Economic incentives clear Senate committee as negotiations continueLawmakers are trying hard to come up with an agreement on how to replace an embattled 20-year tax abatement program for big companies that expired in December.
Texas leaders want a new way to attract businesses here. But they can’t agree on how to do it.
Read full article: Texas leaders want a new way to attract businesses here. But they can’t agree on how to do it.The two chambers have 10 days to cut a deal before the end of the legislative session, and they are miles apart on some of the very foundations of a corporate tax-abatement bill considered to be a priority for Republican state leaders.
New economic incentive plan clears hurdle in Texas House
Read full article: New economic incentive plan clears hurdle in Texas HouseDuring the floor debate for a plan to replace the expired Chapter 313 program, House members added that the new version of the incentive must require companies to pay higher wages and create stiffer penalties for noncompliance.
Have tax questions? Houston experts are taking calls until 6:30 p.m. to provide answers
Read full article: Have tax questions? Houston experts are taking calls until 6:30 p.m. to provide answersKPRC 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.
You’ve filed your taxes -- now, what should you do with those documents?
Read full article: You’ve filed your taxes -- now, what should you do with those documents?If you’ve finally gotten your taxes filed, you’re probably ready to put it all away and move on. Have you considered which documents you should keep? And for how long?
The Texas House and Senate differ on how to cut property taxes. Here’s what their proposals say.
Read full article: The Texas House and Senate differ on how to cut property taxes. Here’s what their proposals say.Cuts to school property tax bills. Bigger tax benefits for homeowners. A controversial idea to limit property tax growth. Here’s what you need to know about the brewing property tax debate at the Texas Legislature.
Tax season: 6 things to know before hiring tax help
Read full article: Tax season: 6 things to know before hiring tax helpThis tax season get ready for surprises that could impact your budget. You can’t count on last year’s popular tax breaks and there’s no stimulus money headed your way. Learn what to expect and what you should know about getting help.
Dealing with IRS delays: What is being done to help backlogs
Read full article: Dealing with IRS delays: What is being done to help backlogsWe 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
Read full article: Dealing with IRS delays: What is being done to help backlogsWe 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
Read full article: Ask Amy: Finding a tax preparer you can trustAs 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 don’t know it until months later when they never get a refund. Not only is your money gone but thieves have your important personal information.
Seen at 7: What to do with your Tax Refund
Read full article: Seen at 7: What to do with your Tax RefundWe are in the middle of tax season, and if you are lucky enough to get a refund this year - what do you do with it? Nathan Grant, Senior Finance Industry Analyst at MoneyTips, shares some smart ways to spend your tax refund.
Need help with your taxes? IRS to open taxpayer assistance center in Houston this Saturday
Read full article: Need help with your taxes? IRS to open taxpayer assistance center in Houston this SaturdayThe Internal Revenue Service is extending help to taxpayers by opening a special assistance center in southwest Houston Saturday.
WATCH LIVE: Local non-profit BakerRipley details help available to Houstonians this tax season
Read full article: WATCH LIVE: Local non-profit BakerRipley details help available to Houstonians this tax seasonBakerRipley is helping taxpayers by offering free, tax preparation services for families and individuals who earn up to $58,000 per year.
Companies say they’re being denied Texas tax breaks as a state agency is overwhelmed with applications
Read full article: Companies say they’re being denied Texas tax breaks as a state agency is overwhelmed with applicationsHundreds of businesses have sought tax savings from the state before the Chapter 313 program expires. Two companies say they are missing out despite being eligible.
A Texas program that backs school districts’ bond debt is about to reach its limit — and it could mean raising taxes
Read full article: A Texas program that backs school districts’ bond debt is about to reach its limit — and it could mean raising taxesUnder the state’s Permanent School Fund’s Bond Guarantee Program, schools get the best interest rate on bonds. That soon may be over if the federal government doesn’t act.
Former Houston lawmaker Ron Wilson pleads guilty to federal tax evasion
Read full article: Former Houston lawmaker Ron Wilson pleads guilty to federal tax evasionRon Wilson, a Democrat who served as state representative between 1977 and 2004, pleads guilty to one count of tax evasion after trying to hide some of his income and failing to pay taxes over two decades.
Texas Gov. Greg Abbott joins other key Republicans in supporting repealing the “tampon tax”
Read full article: Texas Gov. Greg Abbott joins other key Republicans in supporting repealing the “tampon tax”Advocates have previously called for repealing the sales tax on products like tampons, sanitary pads and pantyliners. Menstrual products are already tax-free in 24 states.
Property taxes in Texas: This is how to check how much you’re paying, where your money is going, your proposed rate
Read full article: Property taxes in Texas: This is how to check how much you’re paying, where your money is going, your proposed rateIf you’re wondering how much you’re paying in property taxes, there’s a way to check them online easily via state information that you can quickly filter down to your county.
Here’s how two Texas constitutional amendments could lower some property taxes
Read full article: Here’s how two Texas constitutional amendments could lower some property taxesThe propositions on the May 7 ballot would lower property taxes by shifting more public school costs to the state. But the measures’ language can be hard to understand.
As Texas home values skyrocket, state officials wrestle with how to slow property tax increases
Read full article: As Texas home values skyrocket, state officials wrestle with how to slow property tax increasesTexas school districts, cities and counties rely heavily on property taxes to pay for roads, libraries, police, firefighters and public schools. But lowering tax bills has long been a difficult endeavor.
Inflation and car prices: What’s going on? How did this happen?
Read full article: Inflation and car prices: What’s going on? How did this happen?It seems like you hear about it more and more these days: The extreme lengths people are going to in order to buy a new house; how much it costs to fill up the gas tank; and what we’re spending at the grocery store.
Analysis: Property tax relief that doesn’t lower your tax bill
Read full article: Analysis: Property tax relief that doesn’t lower your tax billTexas lawmakers tried to lower property tax bills during their 2019 session, and a new report says they put a dent in the problem: Taxes aren’t rising as quickly as they would have. But they didn’t solve it: Property taxes are still rising.
5 situations in which pets can be used for tax breaks
Read full article: 5 situations in which pets can be used for tax breaksFor those animal lovers who spend so much money on their pets and hope to recoup some of that cash spent when tax season arrives, this is the cold, hard reality: For the most part, you can’t.
Analysis: Texas government’s favorite local tax
Read full article: Analysis: Texas government’s favorite local taxState lawmakers will tell you they hate property taxes as much as anyone. But the state itself doesn’t levy the tax — 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.
Quiz: How much do you know about income tax?
Read full article: Quiz: How much do you know about income tax?You likely know what “income” means, and of course you’re aware of federal and state taxes, and the fact that we have to do them (or have them prepared for us, in some cases), every year. But how much do you know about income tax overall?
65 or older or disabled? This is what you need to know property tax deferral
Read full article: 65 or older or disabled? This is what you need to know property tax deferralTexans 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.
Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributions
Read full article: Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributionsFor those who plan on donating to a charitable organization for Giving Tuesday, there could be some opportunities to receive money back when filing taxes next year.
Analysis: A quick turn on property taxes with the long game in mind
Read full article: Analysis: A quick turn on property taxes with the long game in mindHigh Texas property taxes were an issue in the state's 2018 elections, and you can see from their work on a new homestead exemption earlier this week that state lawmakers didn't forget that lesson from voters.
With Texas Gov. Greg Abbott’s blessing, lawmakers fast-track property tax cut proposal
Read full article: With Texas Gov. Greg Abbott’s blessing, lawmakers fast-track property tax cut proposalTax relief for property owners joins a packed to-do list for Texas lawmakers — which includes redistricting, COVID-19 vaccine mandates and a spending plan for $16 billion in federal stimulus dollars.
Texas tax preparer sentenced to 15 months in federal prison for tax fraud
Read full article: Texas tax preparer sentenced to 15 months in federal prison for tax fraudOfficials said the woman prepared a total of 37 false income tax returns for clients and four false income tax returns for herself, resulting in over $284,000.
Colin Allred is the first known member of Congress to take paid paternity leave. Now he's pushing for it nationally.
Read full article: Colin Allred is the first known member of Congress to take paid paternity leave. Now he's pushing for it nationally.With COVID-19 making paid parental leave even more critical, the Dallas Democrat is helping lead the move to change federal policy for fathers as well as mothers.
Have you done your taxes? Here are new deductions and credits to help you save more money
Read full article: Have you done your taxes? Here are new deductions and credits to help you save more moneyHave you done your taxes yet? If not, there are some new tax credits and deductions you need to know about so you get the most money back from Uncle Sam this year.
How to protest your property appraisal and lower your taxes
Read full article: How to protest your property appraisal and lower your taxesBy 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 home’s 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
Read full article: If you collected unemployment in 2020, you get a tax breakHOUSTON – 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, “I 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 you’re eligible for PVAMU’s assistance program
Read full article: Free federal tax prep: This is what you need to know, how to check whether you’re eligible for PVAMU’s assistance programFILE - 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.
Taxes: Answers to top FAQs about Social Security income
Read full article: Taxes: Answers to top FAQs about Social Security incomeEven for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.
How do I file taxes if I’m working remotely in another state that’s not my residence?
Read full article: How do I file taxes if I’m working remotely in another state that’s not my residence?A common aspect of the COVID-19 pandemic over the past two or so years has been more employees working remotely, but that doesn’t necessarily mean all those people were working from their homes.
Texans have until June 15 to file taxes: What you need to know
Read full article: Texans have until June 15 to file taxes: What you need to knowVictims of the winter storms have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced Monday.
Is it time to switch to paying quarterly taxes? Here’s when to decide, and how to get it done
Read full article: Is it time to switch to paying quarterly taxes? Here’s when to decide, and how to get it doneThere’s 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
Read full article: 3 ways to handle unemployment benefits when it comes to income taxesFor those who turned to unemployment benefits last year, with tax season upon us, you might be wondering how it’s all going to shake out when it comes to filing your income taxes. But here’s the thing: You still have to pay federal taxes on said unemployment benefits. It ensures you won’t have that burden later, giving you a head start when tax season approaches. Pay quarterlyIf you didn’t 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. 1–March 31 April 15 April 1–May 31 June 15 June 1–Aug.
This checklist will help ensure you have everything prepared for filing this tax season
Read full article: This checklist will help ensure you have everything prepared for filing this tax seasonRegardless of whether you’ve paid someone for help or tried to do it on your own, even just gathering all the data you need for filing your federal income taxes can seem daunting.
Tackle your taxes: How to lower your property tax and even get money back
Read full article: Tackle your taxes: How to lower your property tax and even get money backIf 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 you’ll 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 you’ve moved out.”Atkins 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
Read full article: Tackle your taxes: These are all of the places you can get your taxes done for FREEFree 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
Read full article: Tackle your taxes: This is how to get your missing stimulus moneyStimulus checks: When you can expect to get your moneyHOUSTON – 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 don’t normally don’t file taxes, but are owed stimulus money, fill out the “non-filers” 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
Read full article: Tackle your taxes: Tax breaks and credits for self-employed and gig workersFortunately, there are some COVID tax breaks and credits for people who fall into those categories. The form is for folks who earned money but didn’t 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
Read full article: Tackle your taxes: Keep more of your money with new COVID tax rules and creditsBy 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 -- here’s what it will mean for you
Read full article: The IRS has made changes to the tax bracket -- here’s what it will mean for youEarlier 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.