117.003 – COMPLIANCE WITH FEDERAL TAX LAW FOR FUNDS HELD
Texas Local Government Code § 117.003
Summary
This law requires individuals with taxable interest in funds in interest-bearing accounts to submit tax forms to the district or county clerk. This ensures that interest earned is reported correctly to the IRS, promoting compliance with federal tax laws.
Mandates tax form submission for interest-bearing accounts.
Applies to individuals with taxable interest in funds.
Ensures timely reporting of interest to the IRS.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's COMPLIANCE WITH FEDERAL TAX LAW FOR FUNDS HELD law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.