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Tax Relief in Arkansas

With the deadline to file income taxes coming up, many people are getting a harsh reminder that they do not have much income or savings, and some of them may even owe taxes to the government. For a small segment of the population, the amount of taxes they owe the government is so large that it becomes a serious problem. When the government doesn't get paid the back taxes that they are owed, they may start garnishing wages, putting a tax lien on the person's property, and eventually even selling the property to pay off the debt.

Many people are currently struggling under this problem and are looking for personal tax relief in Arkansas. In some situations, the amount owed is not reasonable because of the person's low income and savings, and they need help working out an agreement with the government to get the problem resolved. Fortunately, there are tax relief companies that can help with this very problem. Tax relief companies can work with individual debtors and the government and help both parties come to an agreement or settlement. This can sometimes reduce the amount of money that is owed.

One program that you should consider if you are being crushed by tax debt is the Offer in Compromise program. This program is an option for people looking for personal tax relief in Arkansas because both the federal and state governments have official OIC programs.

Under this program, the taxpayer will have to show the authorities that they are suffering significant financial hardship and lack the ability to pay off this type of debt. Because the debt it so large, it is actually inhibiting their ability to make payments at all, and they need help. If the taxpayer can show this, and also show that there was a reasonable cause for this accumulation of tax debt, the government may offer them a settlement through the OIC program. This settlement could be a large reduction in the total debt owed.

For the tax authorities to consider someone for this program, the person must be very cooperative with them. Filing returns late or not at all or missing tax payments will significantly hurt a person's chances of being considered for this program. If someone is looking for personal tax relief in Arkansas, it's important that they get in touch with a tax relief company as soon as they can. This company has experience with Offer in Compromise agreements and might identify this, along with other options, to get you back on your feet.

 

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Tax Relief In The News

Smaller Tax Refunds Surprise Those Expecting More Relief

The tax preparers at H&R Block had to take a new class before their busy season started this year: empathy training. They listened to a mock exchange between an employee and a customer whose refund wo...

Published:  Wed, 13 Feb 2019 12:55:00 GMT



Critics say tax relief legislation would widen racial inequities

RICHMOND - Members of progressive groups are seeking to hold Gov. Ralph Northam to his promise to focus the remainder of his term on racial equity and to help reconcile Virginia's long history of raci...

Published:  Thu, 14 Feb 2019 10:22:00 GMT



Multiple property tax relief bills introduced

LINCOLN, Neb. (KOLN) - On Thursday at the State Capitol legislators heard testimony for two different bills aimed at lowering property tax in Nebraska. Lb-314 would take money from a bunch of places t...

Published:  Thu, 14 Feb 2019 17:05:00 GMT



Sen. Grassley Issues Floor Remarks on Tax Extenders, Disaster Tax Relief

WASHINGTON, Feb. 14-- The office of Sen. Charles E. Grassley, R-Iowa, issued the following floor remarks on tax extenders and disaster tax relief: "For several months now, we have been working to ...

Published:  Sat, 16 Feb 2019 17:21:00 GMT



Ready introduces, touts income tax relief bill

In this file photo Sen. Justin Ready, R-District 5 (Carroll County), raises his hand as he is sworn in on the opening day of the Maryland General Assembly in Annapolis Wednesday, Jan. 9, 2019. In this ...

Published:  Sat, 16 Feb 2019 11:07:00 GMT



Ricketts: A short history of property tax relief failures

It has often been said that it is helpful to understand history to avoid repeating the mistakes of the past. This year, state senators have proposed initiatives aimed at achieving property tax relief. ...

Published:  Wed, 13 Feb 2019 01:00:00 GMT



Lamont offers business tax relief, enhanced digital services

Gov. Ned Lamont unveiled his long-anticipated proposal Thursday to eliminate the business entity tax, a $250 fee nearly all Connecticut businesses pay once every two years. The governor, who must deli...

Published:  Fri, 15 Feb 2019 06:37:00 GMT



No relief in sight for taxpayers denied deductions for state and local taxes

Mike Thompson, D-Calif., a senior member of the tax-writing House Ways and Means Committee, said this week. "We must have relief in this area, whether it's changing the cap in some way or something el...

Published:  Sat, 16 Feb 2019 12:52:00 GMT



House and Senate Overwhelmingly Approve $1 Billion Tax Relief Package

Press release from the Virginia General Assembly". The Virginia House of Delegates and the Senate of Virginia on Tuesday approved legislation that will provide nearly $1 billion in tax relief to Virgi...

Published:  Wed, 13 Feb 2019 04:07:00 GMT



$1 billion in tax relief coming to Virginians

Virginia Gov. Ralph Northam is expected to sign into law a package that would spare Virginia taxpayers $1 billion in unintended income tax increases. Two identical bills - one from the House and one f...

Published:  Wed, 13 Feb 2019 11:59:00 GMT




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