Tax is assessed by the filing of a tax return, or by IRS examination.
In this particular case, residents were assessed a sewer tax in the Northern Estates subdivision of Indianapolis.
FORBES: Supreme Court Asked to Answer What's 'Fair' When it Comes to Taxpayers
If you have a non-retirement CD earning 1%, there will be income tax assessed on what the CD earns.
Once a manufacturing hub, Providence now has hospitals and colleges as its economic engines, and about half of assessed land is tax-exempt, the city said.
In October Allison signed the return and mailed it to the IRS. No payment accompanied it, and the IRS assessed the unpaid tax liability that it showed in November 2006.
FORBES: Tax Court Not Quick To Find Abuse In Innocent Spouse Case
While each specific situation should be assessed, the tax footprints of professional athletes usually have several things in common, and professional athletes in the same sport usually have more in common.
FORBES: Phil Mickelson: Is Moving From California a Mistake? Actually, He Should Have Moved Sooner
While some people do owe the tax assessed because they did forget to report income, a large percentage of them owe only a part of the proposed amount or none at all.
FORBES: Stop the Machine! IRS Document Mismatches, Form 8949
In the case of a false or fraudulent return with the intent to evade tax, the tax may be assessed, or a proceeding in court for collection of such tax may be begun without assessment, at any time.
FORBES: Attorney Disbarred For Submitting Falsified Tax Returns For Financial Aid
The collection statute of limitations runs ten years from the time the tax is assessed.
For assets held more than 12 months, the tax is assessed at 20%.
The examiner will also be alert to attempts by the non-filer to conceal or transfer assets to evade collection of tax later assessed.
FORBES: Non-Filers Beware: Who's That Knocking at Your Door ?
This tax is assessed to filers who have large amounts of certain types of income, such as ISO bargain elements or municipal bond interest, and is designed to ensure that the taxpayer pays at least a minimal amount of tax on income that would otherwise be tax-free.
The tax liability need not have been assessed at the time of the transfer, as long as the tax debt had accrued.
If the stock appreciates in value, an additional tax will be assessed at the time of sale.
In these cases, the tax may be assessed or collected at any time.
FORBES: Taxes From A To Z (2013): S Is For Statute Of Limitations
The IMF has indicated that it is likely to join the bailout, but that its involvement will depend on its own assessment of the country's debt sustainability once the proceeds from the deposit tax have been assessed.
With respect to collecting tax, the IRS generally has ten (10) years after the date of the tax liability has been assessed to collect.
FORBES: Taxes From A To Z (2013): S Is For Statute Of Limitations
Tax reform proposals should be assessed based upon the present value of future federal revenues, and not on the revenues that they are expected to bring in during the current fiscal year.
FORBES: Why Do The Economic Proposals Of Perry, Romney And Cain Terrify Liberals?
Even if the business is incorporated, the withheld portion of the tax--withheld income tax and withheld Social Security tax (this excludes employer matching Social Security tax)--can be assessed against a corporation's "responsible persons" personally.
Then the IRS assessed him for 2006 and he took them to Tax Court.
This tax is especially pernicious because it is assessed on sales, not profits.
FORBES: ObamaCare's Medical Device Tax Will Cost Innovation and Jobs
The IRS may act to collect tax, penalties, or interest for ten years after it is assessed or accrues, but not thereafter.
Good tax policy decrees that, wherever possible, a fee for a service should be assessed against those who directly benefit from that service.
The city, which pays for the purchases via a sales tax and borrowings, has bought the properties at up to 110% of their assessed value.
应用推荐