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Tax Relief in Alaska

Although many in Alaska are doing very well financially, there is also a significant portion of the population that is suffering under crushing tax debt and lacks the income and assets to reasonably pay off the debt. For these individuals, it can be a very difficult and frightening situation.

In these situations, a resident of Alaska has the option to study up and become familiar with the state and federal laws on how to negotiate and best manage outstanding tax debt or ask for help from an expert. However, if outstanding tax debt is not paid the government can garnish wages, add additional interest and penalties, put a tax lien on their property, and then eventually sell the property to pay off the back taxes.

One way a tax relief company can reduce the tax burden is by helping the person file or amending past tax returns. These tax debt situations often arise when an individual failed to file tax returns in the first place. Once the tax authorities discover that this has happened, they will file a substitute for the returns themselves, but they will file the return using the minimal exemptions and deductions. This often results in the individual owing more income tax than if he had filed the return for himself.

In these situations, a tax experts can help you get personal tax relief in Alaska by filing those past returns. When they are correctly filed, they will make maximum use of the exemptions and deductions that apply to you and your overall tax debt will decrease. Though this method would not give complete personal tax relief in Alaska, it would give a person some needed breathing room.

Filing an old return or amending an incorrect return are just a few possible ways that a tax relief company can help some who owes back taxes to the government. By working with a company, an individual will be able to take advantage of all the options available and hopefully reduce their debt burden to something more manageable.

 

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Tax Relief In The News

Property tax relief alternative would increase sales tax

On Day 6 of the 2018 Legislature's 90-day session, its tax reform battle lines began to take shape. A comprehensive tax reform package that would hike the state sales tax rate by one-half cent ...

Published:  Wed, 16 Jan 2019 12:00:00 GMT



Senate Republicans propose tax relief with marijuana revenue

Revenue from the potential legalization of marijuana in New York would be committed to tax relief in a plan unveiled on Tuesday morning by Senate Republicans. The "Real Solutions" agenda ...

Published:  Tue, 15 Jan 2019 07:50:00 GMT



IRS Offers Some Penalty Relief For Taxpayers Who Didn't Withhold Enough In 2018

To ease the burden on taxpayers, the Internal Revenue Service (IRS) has advised that penalty relief may be available. While we joke about writing big checks on Tax Day, taxpayers typically pay their t...

Published:  Wed, 16 Jan 2019 13:23:00 GMT



COLUMN: Property tax relief Don't count on it

Meaningful property tax relief has little chance in the upcoming session of Nebraska's Legislature. What that says about representative democracy in our state is less clear. If we know only one thing ...

Published:  Wed, 16 Jan 2019 00:00:00 GMT



Ricketts focuses on property tax relief, frugal government

Gov. Pete Ricketts this week zeroed in on additional property tax relief and new workforce development initiatives along with the need to continue to adhere to a frugal state budget as he outlined ...

Published:  Wed, 16 Jan 2019 07:52:00 GMT



Ricketts: Property tax relief key goal for 2019

Tax relief was a highlight of Gov. Pete Ricketts' State of the State address during a visit to Grand Island Tuesday. After addressing the state Legislature in Lincoln, Ricketts toured the state, with ...

Published:  Tue, 15 Jan 2019 23:19:00 GMT




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