McKinney Back Taxes and Late Filing

Getting Back on Track

Tax problems in McKinney often come from change: a business that grew quickly, land that changed use, or an aircraft bought out of state. BOMCAS helps McKinney clients file what is missing and settle what is owed, remotely.

Penalties and Texas disclosure options in general are on the Texas back taxes page. These are McKinney's common catch-up cases.

Aircraft Use Tax

The Comptroller regularly contacts owners of aircraft based in Texas when no sales or use tax record matches. Owners who bought aircraft out of state without paying tax may owe use tax plus penalties and interest. Where an exemption or credit applies, the records must prove it. We gather purchase documents, use records and tax paid elsewhere and respond.

Agricultural Valuation Problems

The appraisal district can remove agricultural valuation if land is no longer used for agriculture, and a rollback tax may follow. Landowners who stopped grazing or cutting hay, or whose leases lapsed, should restore qualifying use or understand the cost. Owners can protest a removal with the appraisal review board, and new owners of land that already had agricultural valuation must file their own application to keep it, usually by April 30.

Unfiled Returns

People who have not filed for several years should file the last six years in most cases. Filing your own returns usually reduces the tax compared with a substitute return prepared by the IRS. Unclaimed refunds expire three years after the due date.

Late Payroll

Small employers that fell behind on Forms 941 or 943 face penalties for late filing and late deposits. The trust fund recovery penalty can make owners personally liable for withheld taxes not paid. Catching up quickly and arranging a payment plan limits this.

Information Return Penalties

Builders and contractors who paid subcontractors without issuing Forms 1099-NEC face penalties for each missing form, and the IRS may require backup withholding of 24 percent on future payments to subcontractors without W-9s. Filing late forms promptly reduces the penalty, and collecting a W-9 from every new subcontractor before the first payment prevents the problem.

Homeowners Behind on Property Tax

Homeowners with delinquent property tax on their homestead can usually arrange an installment agreement with the Collin County tax office, and people 65 or older or disabled can defer the tax until the home is sold. Penalties and interest rise each month, and attorney fees are added after July, so acting early matters.

IRS Mismatch Notices

A CP2000 notice proposes extra tax when the IRS has income records that do not appear on your return. Many are partly wrong, such as stock sales with no basis or a 1099 for income already reported. A clear written response with documents usually resolves them.

Breweries and Venues

Breweries that miss federal excise tax returns or Texas reports risk their permits. Venues that charged for packages without collecting sales tax may owe tax on past events. We review past filings and prepare corrections.

Franchise Tax

Companies that missed franchise tax reports may have forfeited their right to do business in Texas. Filing the missing reports and paying any tax allows reinstatement.

Our Method

Collect IRS, Comptroller and appraisal records.
Identify gaps and errors.
Prepare and file corrections.
Request penalty relief.
Arrange payments.
Set up ongoing compliance.