How can you find out if taxes have increased?


Quick Answer

The Internal Revenue Service is the federal agency that regulates taxes, so in order to determine if taxes have increased, taxpayers must check the annual IRS report. This report publishes annual tax rate increases for inflation and new laws passed by the federal government, according to Forbes.

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Full Answer

Revenue procedures of the Internal Revenue Service are updated at least annually. These documents reflect increases or decreases in taxes, and are posted on the Internal Revenue Service's website.

However, this report only reflects changes in federal taxes, so state residents must also check state tax rates to see if they have changed. Many states, such as Texas, have Truth-in-Taxation laws that require the state to inform citizens if a proposed tax increase is going to be presented to the state legislature, explains the Texas Comptroller of Public Records. Such laws apply to property taxes and may also apply to state income taxes. These laws require the state to inform citizens when taxes have increased, which is usually done by mail.

Other states, such as North Carolina, may publish tax rate changes online through their Department of Revenue. These websites often also include summaries of changes in tax laws, which is where the increase or decrease in taxation rates originate, informs the North Carolina Department of Revenue.

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