Area Directors have the authority to immediately assess tax due on a properly filed tax return without issuing a Notice of Deficiency. However, the mere act of the taxpayer filing or the IRS receiving the tax return does not constitute an assessment of tax. The IRS must follow the appropriate assessment procedures before the tax will be considered to be assessed against the taxpayer. Common Assessment Procedure For most taxpayer, the assessment process begins when a tax return is filed … Read more →

Local, state, and foreign real property taxes are generally deductible by the person who the tax is assessed to. In most cases this will be the property owner but it can be another person in some other situations. This property tax can be deductible in either the year in which they were paid or accrued. In the event that they are for non-business real property, they are deductible as an itemized deduction. Special Assessment Tax A special assessment tax paid … Read more →