SF property tax appeal deadline is tomorrow, Sept. 15

SAN FRANCISCO — The filing period for a formal appeal of the 2017/2018 assessed property value in San Francisco will close Friday, September 15, the city assessor’s office announce. The period for appeals opened on July 2, 2017.

There are over 210,000 parcels in the City and County of San Francisco. The Office of the Assessor-Recorder is responsible for establishing a taxable value for each of those parcels. Every year in July, the Office of the Assessor-Recorder mails a Notice of Assessed Value (NAV) to all property owners.  The NAV includes the assessed value of the property, which is used to calculate the annual property tax due.

However, if property owners believe the market value of their property is lower than the assessed value found on the NAV, it is the owner’s right to file a formal appeal to temporarily lower the assessed value.

To file a formal appeal, taxpayers must submit an application form to the Assessment Appeals Board by September 15, 2017. After receiving the completed application and filing fee ($60), the Assessment Appeals Board will schedule a hearing and property owners will have the opportunity to provide evidence to support their claim. A translator can be made available upon request.

“Our office believes in arriving at a fair taxation value.  If you have additional information that supports your value, we want to hear about it and we want you to know about your rights,” said Assessor Carmen Chu.

The Assessment Appeals Board is a separate entity from the Office of the Assessor-Recorder and is responsible for independently hearing these appeals.

To file an appeal, property owners must complete an Application for Changed Assessment and submit a non-refundable $60 administrative processing fee no later than this Friday, September 15, 2017. For more information, please visit www.sfgov.org/aab.

To avoid penalties, property owners are required to pay their property taxes on time even if they have filed a formal appeal.

 

source: usa.inquirer.net

Biggest celebrity endorsers didn’t make it to list of top taxpayers

MANILA, Philippines–Some of the country’s biggest celebrity endorsers did not make it to the list of top individual taxpayers, according to the Bureau of Internal Revenue.

In its weekly print advertisement for the government’s tax campaign, the BIR cited the list of 24 biggest celebrity endorsers for 2011 published by Yes! Magazine and revealed whether they made it to the list of Top 500 taxpayers.

The BIR noted an interesting finding that more than half, or 15, of the Top 24 celebrity endorsers for 2011 were not in the list of Top 500 taxpayers for that year.

These were the following: couple Carmina Villaroel and Zoren Legaspi, Marian Rivera, Robin Padilla, Sarah Geronimo, Judy Ann Santos, Anne Curtis, Angel Locsin, Boy Abunda, KC Concepcion, Dingdong Dantes, Gerald Anderson, Bea Alonzo, Jericho Rosales, and Ai-Ai delas Alas.

For 2012, the couple Villaroel and Legaspi, Rivera, Rosales, and Delas Alas still did not make it to the BIR’s list of Top 500 taxpayers.



Ryan Agoncillo, husband of Judy Ann Santos, who was the 16th top celebrity endorser for 2011, was included in the BIR’s list of top taxpayers for the said year landing on the 194th spot. He paid P5.6 million in taxes that year.

However, Agoncillo did not make it to the list of top taxpayers for 2012.

Yes! Magazine has not yet published the list of top celebrity endorsers for 2012.

The list of top celebrity endorsers is based on the number of endorsements per celebrity and not based on amount of income earned from said endorsements.

The BIR clarified that one may not automatically conclude that the data provided in its weekly print advertisement showed tax evasion.

BIR Commissioner Kim Henares said the weekly advertisement was meant to encourage tax compliance.

She said people who may know whether individuals or corporations cited in the advertisements are indeed tax evaders are urged to report details to the BIR.

Meantime, the BIR ad likewise revealed that some of the biggest celebrity endorsers were also some of the biggest taxpayers in the country.

Kris Aquino, who was the top celebrity endorser for 2011, was also the No. 1 taxpayer for that year and was the 6th biggest taxpayer for 2012. She remitted P49.87 million and P44.93 million in taxes in the said years, respectively.



John Lloyd Cruz, who was the second biggest celebrity endorser for 2011, landed on the 205th rank of the BIR’s top taxpayers list for that year, having paid P5.4 million in taxes.

Cruz then significantly increased his ranking in the BIR’s list in 2012 to land on the 8th spot, having paid P42.79 million.

Piolo Pascual, who was the 3rd biggest celebrity endorser for 2011, ranked 123rd in the BIR’s list of top taxpayers for that year, having paid P6.98 million in taxes.

Pascual’s ranking with the BIR also substantially increased to 34th spot in 2012 when he paid P23.36 million in taxes.

Kim Chiu, who was the 7th biggest celebrity endorser for 2011, also was the BIR’s 133rd and 309th biggest taxpayer for 2011 and 2012, respectively. She remitted P6.7 million and P7.44 million in taxes in the said years.

Vic Sotto, who was the 11th biggest celebrity endorser for 2011, landed on the 19th and 89th spots of the BIR’s top taxpayers for 2011 and 2012, respectively. He paid P14.73 million and P14.62 million in taxes in the said years.

Michael V., who was the 19th top celebrity endorser for 2011, landed on the 178th and 118th spots in the BIR’s list of top taxpayers for 2011 and 2012. He paid P5.9 million and P12.6 million in taxes in those years, respectively.

Derek Ramsay, who was the 20th top celebrity endorser for 2011, landed on the 120th and 68th spots in the BIR’s list of top taxpayers for 2011 and 2012. He paid P7.08 million and P16.7 million in taxes in the said years, respectively.

source: business.inquirer.net

In Tax Return Preparation, Tax Attorney is a Wise Investment

Just the mention of the word tax would send an eerie feeling to many individuals. However, every person must accept the fact that paying tax burdens is part of the duty as a citizen of a state. You are left with no choice but to pay tax liabilities. If you don't, you are to suffer tax penalties, fines, or even imprisonment. Moreover, it is better to comply with your duties on time to preclude you from further troubles with the government. Before a taxpayer can pay his taxes, he must first prepare his tax return. Tax return preparation is one ordinary thing to individuals earning income. This is because all income earners are duty-bound to pay taxes to the government. Taxes are paid annually. Hence, before the scheduled time for the collection of tax contributions, the taxpayer must already be ready.

Tax return is the official document given to taxpayers for them to list their tax contributions for a certain period. It is necessary that this document be prepared and submitted early in time so as to avoid penalties.

Preparing a tax return can be done personally by the taxpayer. This is if he is keen in doing the task on his own. However, if you want an easier way, there are currently advanced software that are especially designed to prepare tax returns. Taxpayers can use said software to help them compute tax contributions. This software can be had online. You just have to download and install it in the computer after that you will be able to use it to ease the burden of tax return preparation.

If you do not want the software, you can hire the services of expert tax return calculation personnel. You just have to be certain that the person you hire is the best that you can have. Better yet, hire the services of a tax attorney.

A tax attorney guides a client to avoid future tax problems. He also defends clients in cases of criminal and civil suits regarding tax troubles. When a taxpayer has trouble with the state department of revenue or Internal Revenue Service, he may opt to remedy it himself or hire the services of a tax attorney. However, the taxpayer can be better served by a tax attorney.

Tax attorneys specialize in solving tax problems with the IRS. They are experts in taxation issues and relief. Nonetheless, they are considered a great help in advising their clients on how to lessen their tax liabilities. They also can also give valuable advice on what exemptions are available to them. They can also give the demarcation line between legal and illegal ways of reducing or avoiding taxes.

One important thing in hiring the services of lawyers is that they must be equipped with knowledge and expertise about the subject matter. Alabama tax attorney, for instance, is an expert in terms of Alabama taxation laws. If you are a resident of Alabama, it is better to hire the services of a good Alabama attorney to assist and defend you.

Knowledge and expertise are boosted by the fact that the tax attorney is also a resident of your state. Hence, it can be presumed that he is updated with the laws and customs of the land than other lawyers.

Bear in mind that tax return preparation is an important process in taxation. One mistake can invite criminal actions and penalties. Moreover, it is better to consult a trusted tax attorney in your territory. A good tax attorney is considered a taxpayer's wise investment.

TRS can help you with your TaxRelief help, just call today!

Article Source: http://www.ArticleBiz.com

From being No. 1 taxpayer in 2008, Pacquiao slides to 135th spot in 2010

From being number one in 2008, Sarangani Rep. and world boxing champion Manny Pacquiao slid to the 135th spot among the country’s Top 500 individual taxpayers in 2010, latest data from the Bureau of Internal Revenue (BIR) showed.

Pacquiao, who is currently at loggerheads with the BIR, paid only P9,190,691 in taxes in 2010 despite having a taxable income of P504.5 million, the bureau said.

In 2008, Pacquiao paid over P125 million, making him the top taxpayer for that year.

The eight-time world champion is currently facing a criminal case for obstructing a tax investigation into his earnings, a case that he said has cost him a fortune in endorsements.

The case was filed by the BIR last February after Pacquiao allegedly failed to submit proper documents about his earnings from boxing matches and his numerous commercial endorsements.

The BIR, through the agency’s regional director Rozil Lozares, issued a Letter of Authority to the boxing icon requiring him to submit documents regarding his earnings. Pacquiao allegedly failed to comply.

The BIR wants to investigate Pacquiao’s 33 tax records, including his annual income tax return in 2010, his book of accounts, list of assets, as well as his earnings from his fights against Antonio Margarito and Joshua Clottey.

GMA News Online called Pacquiao's business manager Rex "Wakee" Salud over the phone, but the boxing champ's camp is still to issue an official statement as of this posting.

Pacquiao’s tax payments substantially declined to some P7 million in 2009 from P125 million in 2008–a drastic drop that got the bureau curious.

Pacquiao has vowed to fight the case in court and accused the BIR of singling him out for harassment.

According to the latest BIR list, businessman Vicente Lao was the top taxpayer for 2010. He had a taxable income of P235 million that year and paid taxes of P75 million.

After Lao, businessman Rolando Hortaleza placed second with P69.665 million in taxes. Filmmaker Carlo J. Caparas, once the subject of a tax case filed by the BIR, came in third with P65.670 million in taxes.

For non-individual taxpayers, communications giant Smart Communications topped the list with P11.456 billion for 2010. Other top corporate taxpayers were Chevron Malampaya LLC (P4.378 billion) and Shell Philippines Exploration (P4.327 billion).

Nestle and San Miguel placed fourth and fifth, with P4.277 billion and P4.206 billion, respectively. — KBK/VS, GMA News

source: gmanetwork.com