Rainbow is an unincorporated community in Somervell County, Texas, United States. It is located on Farm Road 200, four miles northeast of Glen Rose. The community is part of the Granbury, Texas Micropolitan Statistical Area. The origins of the community's name date back to the 1890s. Area residents requested a post office and gathered to choose a name. During the meeting, a thunderstorm occurred, followed by a rainbow. The residents, struck with the rainbow's beauty, named their town after it. In the 1920s, Rainbow had a population of approximately 113. The population began to decrease after that period, reaching a low of 40 in 1960. With the opening of nearby Dinosaur Valley State Park in the 1970s, the population increased. Current estimates of Rainbow's population range from 76 to 121. The Glen Rose Independent School District serves Rainbow area students.

What is tax law?

Tax law is the codified system of laws that describes taxes on economic transactions. Tax attorneys advise and represent individuals and businesses on all types of tax issues -- including income tax, payroll tax, property tax, and estate and gift taxes. Tax attorneys ensure that their clients are in compliance with federal and state laws and regulations, and represent taxpayers in enforcement proceedings initiated by the Internal Revenue Service (IRS) and/or state taxation agencies.

Answers to tax law issues in Texas

In the administration of any estate of a person who has passed away, there may be significant tax consequences. An...

At the federal level, the primary tax is the income tax. Most know this form of taxation by the completion of the...

The IRS can seize just about anything you own-including your home and pension plans. There is a list of items exempt...

The federal government imposes estate taxes only if your property is worth more than a certain amount at your death...

Most types of businesses-sole proprietorships, partnerships, corporations that have qualified for subchapter S...

Non-profits will want to apply for and obtain federal and state nonprofit tax exemptions. Many groups don't want to...

The Tax Relief and Health Care Act of 2006 made significant changes to the Informants Reward Program under the False...