Tennessee Hall Income Tax Letter

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This State of Tennessee Department of Revenue letter sample regarding Hall income tax Received an Audit Notice? is provided by TaxAudit.com, the nation’s leading Tax Audit Defense firm. We can help! NXXXXXXXXXXXXXXX TENNESSEE DEPARTMENT OF REVENUE DATE: August 8, 2014 FIRST M & FIRST M LAST ID#: XXX-XX-XXXX STREET ADDRESS CHATTANOOGA TN 37421 RE: Tennessee Income Tax for Year(s): 2009 Dear Taxpayer: The State of Tennessee imposes a tax (commonly referred to as the Hall income tax) on certain types of dividend and interest income. According to information furnished by the Internal Revenue Service, (1) it appears that you may have received taxable interest and/or dividend income during the year(s) listed above. However, according to the department’s records, and income tax return was not submitted for these year(s). Please provide one of the following for each of these year(s) - 2009 1. Copies of Schedules B and D from your federal form 1040, or 2. A completed copy of the enclosed Tennessee Hall income tax return, or 3. A completed copy of the enclosed Information Request Form. Also, if you received any income from a brokerage company, please provide a copy of your year-end statement or a detailed breakdown of the income by source (i.e., money market, mutual fund, CD, etc.( as well as any other information that you deem to be appropriate. The enclosed income tax return instructions explain who is liable for the Tennessee income tax and what types of income are taxable or nontaxable. Additional information and forms may be found on our website at: www.tn.gov/revenue. Please return the required information in the enclosed envelope within thirty (30) days from the date of this letter. Your timely compliance is appreciated. For assistance of information, call (615) 532-6439. AUDIT DIVISION P.O. Box 190644 Nashville, TN 37219-0644 Enclosures (1) Federal tax information is furnished to the Stat of Tennessee pursuant to Internal Revenue Code Section 6103(d)..

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HALL INCOME TAX the Largest Revenue Stream for the City of Oak Hill Is the Hall Income Tax
Pride in our community • Affection for our history • Service to our neighbors Fall 2 017 www.oakhilltn.us NEWS HALL INCOME TAX The largest revenue stream for the City of Oak Hill is the Hall Income Tax. This is a tax required by the State of Tennessee and paid (if required individually) on your annual State of Tennessee Income Tax Return. INSIDE The amount paid to the State is divided between the State and the local community. In order • Bulk Building for the local community to receive their share, a resident must include Oak Hill in the City box on the Regulations return. Recently, the State of Tennessee created a plan to eliminate this tax over the next 5 years or • Budget Report so. The initial rate was 6%, last year the rate fell to 5%. Each year the rate will fall by 1% until the tax is eliminated. This of course means that in future years, the City of Oak Hill will be losing a significant amount of its’ annual revenue. At the 6% rate, the city would receive around $450,000, • Garbage/Recycle with the change to 5%, the city received $350,000. It is estimated that at 4%, the city will receive Service about $270,000. This will continue to decline until it is eliminated. Most recently due to this change, the Board of Commissioners discussed possibilities to offset this significant loss in revenue. One of the more popular ideas is to pass on the cost for garbage/ The mission of the recycling services. This service currently costs the city about $375,000 per year.
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