Texas Taxing Information
Accounts Receivable Levies
A business with a tax liability may have levies issued to their receivables by the state. This legally obligates the receivable to pay the state what they would otherwise pay the business concerned and can have serious social and financial ramifications.
If you are indebted to the state, the state may levy your bank accounts, directly taking up to the amount that you owe. There is a brief holding period in this process, during which it is recommended that you seek professional assistance. Doing so may enable you to avoid the levy, or, in some cases, reverse it.
Failure to file sales tax reports will result in the issuance of a bill and instructions for resolving that delinquency. Further failure to pay or file a tax report may lead to enforced collection actions.
The state may seek to resolve your liability through the garnishment of your wages or benefits checks. A garnishment remains in place until the liability is paid in full. If you are currently or believe you will be subject to garnishment, it is recommended that you seek professional advice immediately.
Priority One: Stopping Aggressive Enforced Collections
Tax Collection Agencies
The state may employ a debt collection company to collect delinquent taxes. It is important to verify the identity of such a company upon contact, prior to providing any personal information. If a collection agency is given your account, any fees associated with their involvement may be added to your total liability.
Failure to pay or file taxes on time may result in additions to your total liability in the form of penalties. Penalties vary in amount by the circumstances and type of tax left unaddressed. Current penalty rates can be found here: https://comptroller.texas.gov/taxes/file-pay/penalties.php
Power of Attorney
If you so choose, you may authorize a qualified professional to represent you. This requires that you complete and submit the appropriate documentation prior to any discussion of tax matters.
Tax Liens & Warrants
If enough time passes without a tax bill being addressed, the state may issue liens or warrants on property. These are matters of public record, and thus can affect credit and property-related transactions.