New Measures to Help Taxpayers; Update on the Texas Bullion Depository – EastTexasRadio.com

2 hours ago

(AUSTIN) — Texas taxpayers who disagree with a state tax assessment or are denied a refund could find it easier to take their arguments to court under measures advocated by Texas Comptroller Glenn Hegar and approved by the 87th Legislature.

In the just-released August edition of Fiscal Notes, the Comptroller’s office looks at these taxpayer-friendly laws. Prior to this legislation, the law required taxpayers to pay disputed taxes before they could have their day in court, unless they could prove an inability to pay.

Lawmakers removed this “pay-to-play” requirement on disputed tax assessments, provided taxpayers first go through the State Office of Administrative Hearings process — where cases are frequently settled. These new measures potentially save taxpayers and the state time and money.

“We want a fair system for taxpayers whose hard-earned money pays for services and programs for all Texans,” Hegar said. “These new, taxpayer-friendly laws preserve our valuable administrative hearings process, which allows most disputes to be settled before a formal hearing even takes place. If taxpayers still disagree with a tax decision despite our best efforts to resolve differences, they will find it easier to take their case to court.”

In this issue, we also examine the Texas Bullion Depository (TxBD), which is open for business in Leander, Texas. The Comptroller’s office is responsible for its oversight and partners with Lone Star Tangible Assets (LSTA) to manage the facility’s daily operations.

When TxBD was preparing to launch in 2017, officials declared it would be an alternative to depositories located primarily in and around New York for precious metal owners seeking a storage vault. That’s still true, but since then, the TxBD has matured in important ways.

Fiscal Notes furthers the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.

Fiscal Notes is available online and can be received by subscribing via the Comptroller’s website.

For questions about how our agency functions are continuing during the outbreak, visit our COVID-19 News page or our Virtual Field Office.

This content was originally published here.

Rate:

0 out of 5 stars(0 ratings)

Subscribe to Our Newsletter

money for gold logo

Learn About Buying and Selling Gold for the Best Prices

Get the latest news and expert advice on Gold!

We don’t spam! Read our privacy policy for more info.

Leave a Reply

Related

GOLD BULLION slipped but held on track for a 1.7% weekly gain on Friday, lagging silver but outperforming…

Read more

The majority of orders ship out within two to four (2-4) business day of cleared payment. From there, delivery time…

Read more
The Rarest American Silver Eagles - Bullion Shark

The American Silver Eagle series, which turned 35 this year, is the most widely collected and popular modern U.S.…

Read more

Share Great Content for Our Resource Section

About

MoneyForGold.com is a resource site created for those looking to sell their personal collection of gold - whether it’s jewelry, coins, bars, antiques, etc., anything made from gold can be sold for quick cash. We encourage visitors to signup and share quality “Money For Gold” resources.

Have a question or comment? Email us at: contact@moneyforgold.com

Navigation
MoneyForGold.com
50% Complete

Learn Where to Sell Your Gold for the Best Prices

Free 3-Minute, Practical Stories Delivered to You Everyday!
Buy, Sell, Invest in Gold Today!