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Tax Relief in Alabama

Every year, there are more people in Alabama who are suffering from outstanding tax debts. Whether these problems were caused because of inability to pay, tax preparation mistakes, or failure to file tax returns, these people are now stuck with mounting debts and few ways to get themselves out of the situation. Fortunately, there are tax relief companies out there that can help them. Tax relief companies work with people who owe back taxes to the state and the IRS and help them make their situation more tenable. Sometimes these companies can reduce their overall debt, the monthly installment, or find some other form of personal tax relief in Alabama that can ease their burden.

There are many different methods that you and your tax relief company can take. Some people who are looking for personal tax relief in Alabama will try to work out a reasonable installment plan with the government. Though this option will not lower your total debt, it will show the government that you are cooperative and will stop them from putting into motion other collective actions against you. The government is also usually pretty flexible with installment plans if you seriously lack the income to pay back the taxes. You can choose to pay very small installments, which may accumulate interest, or you can agree to make bigger payments in hopes of paying it off sooner. Either way, you will be showing the government that you are cooperative, and they will try to work with you.

Some of those who are looking for personal tax relief in Alabama instead try the Offer in Compromise method. In this program, the taxpayer must show two things to the IRS. First they must demonstrate that they are completely incapable of paying their tax debt because it is too large, and they lack the income or wealth to ever pay it off completely. Second, they must show that they are cooperative, and they can show this by making a high initial payment as well as paying all their new taxes completely for the next five years.

This program is very attractive because it can potentially reduce your tax debt by a large amount. However, those looking for personal tax relief in Alabama should remember that although the IRS OIC program is a possibility, there is no OIC program in Alabama, so any state back taxes will need to be resolved using other available options.

 

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Tax Relief In The News

Low-income Detroiters can apply for tax relief, foreclosure prevention

DETROIT, MI - Detroit is taking steps to ensure more low-income homeowners can stay in their homes by inviting them to apply for tax relief and allowing people to buy back houses in foreclosure. As of ...

Published:  Tue, 10 Jul 2018 18:54:00 GMT



Tax relief for severe storms and flooding victims

Texas - Victims of severe storms and flooding that began on June 19, 2018 in parts of Texas may qualify for tax relief from the Internal Revenue Service. The President has declared that a major disast...

Published:  Tue, 10 Jul 2018 00:09:00 GMT



Ford government pledges tax relief in throne speech

Ontario's new Progressive Conservative government says it will take action to reduce gas prices and hydro bills, while providing tax relief to families and small businesses. In his government's first ...

Published:  Thu, 12 Jul 2018 12:56:00 GMT



Vaughn Palmer: Public payroll tax relief tilts James' promise for level playing field

VICTORIA - After weeks of speculation, Finance Minister Carole James this week announced relief from the new payroll tax for public service providers like schools and hospitals as well as many chariti...

Published:  Fri, 06 Jul 2018 18:07:00 GMT



Understanding Social Investment Tax Relief and how to make it work

Social Investment Tax Relief (SITR) was designed to increase the access to reasonably-priced investment capital by a range of eligible organisations which were struggling with established channels. It ...

Published:  Wed, 11 Jul 2018 17:56:00 GMT



Tax relief, business loans available for local flood victims

The U.S. Small Business Administration and the IRS both announced Tuesday that they are joining efforts to help local victims of the June flooding recover from the disaster. The U.S. Small Business Ad...

Published:  Tue, 10 Jul 2018 20:38:00 GMT



Homeowners with Irma damage can possibly receive tax relief

Almost a year after Hurricane Irma struck, residents in Timberwood Village in South Fort Myers are still picking up the pieces. Homeowners like Alfred and Suanne Gotsche say they're out thousands of d...

Published:  Wed, 11 Jul 2018 17:42:00 GMT




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