Posts from November 2016.

Businesses seeking to locate or expand operations in South Carolina may be eligible for one or more types of grant funding through the State of South Carolina. Grants are designed to be a reimbursement mechanism, where the state will reimburse the business for certain project-related costs (e.g. land, buildings, roads, and infrastructure).  The state often funds the grant to the local county government in which the project is located, and the applicable county government then administers the grant for the business.

Grant funding is discretionary, and may be in addition to, or in lieu ...

Once the South Carolina Department of Revenue (SCDOR) completes an audit of a taxpayer, if there are any proposed adjustments and additional taxes SCDOR seeks, it will issue to the taxpayer a proposed notice of assessment with an examination report. A taxpayer then has 90 days to administratively protest/appeal the proposed assessment within SCDOR.

SCDOR formerly had an "appeals" audit function. This appeals audit function was abolished by SCDOR, however, and appeals/protests of proposed audit assessments now simply go back to the auditor, and to the auditor's supervisor.

If a ...

The South Carolina Department of Revenue (the "Department" or "DOR") files tax liens when a taxpayer fails to timely pay his or her state tax liability. The Department files a tax lien in order to establish its priority to a taxpayer's assets. While South Carolina tax liens are similar to federal tax liens, there are important differences.

A "silent" tax lien arises in favor of DOR whenever a person fails to pay his or tax state taxes. S.C. Code § 12-54-120. DOR generally has ten years from the date of a tax assessment to collect a tax liability by seizing a taxpayer's property. S.C. Code § ...

When someone owes the IRS taxes, as a result of not paying the tax shown as due on a tax return or where the IRS audits and imposes additional taxes owed, the IRS will "assess" this tax liability, and with penalties and interest. The term "assess" or "assessment" simply means the IRS has recorded the taxes as a legal liability of a taxpayer. Once the IRS assesses a tax liability against a taxpayer, the IRS then proceeds to collect it.

The IRS has developed a series of "collection notices" sent to taxpayers in its efforts to collect assessed federal taxes. These notices are generated now by the ...

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