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Tax Relief in Minnesota

Minnesota residents are feeling the burden of the same financial struggles affecting the rest of the nation, including those that come as a result of tax debt. For instance, Minnesota's top tier of personal income tax is fourth highest in the United States at a rate of 9.85%. The state collects an average of $1,404 per person in local and state income tax each year, ranking the state 6th highest nationwide.

Even with respect to property taxes, Minnesotans pay approximately $1,535 per person each year, which places the state in 16th highest place overall.

Although property taxes in the state are relatively low, Minnesota residents often find themselves in the position of owing money to the IRS and to local and state collection agencies. For Minnesotans who have little-to-no savings, and who often live from one paycheck to the next, setting aside the money to pay Uncle Sam is often a lower priority than paying the rent, taking care of medical bills, buying groceries, or making car payments. Paying taxes takes a backseat to meeting immediate, urgent needs.

While the average amount of federal taxes collected in Minnesota is almost the same as the national average of $11,715, the state's median household income has declined by 17% in recent years.

Financial difficulties have prompted many Minnesotans to seek out tax relief as a solution to increasing personal debt. Tax relief companies help individuals to minimize the stress of owing money to state and federal tax authorities, and to avoid the possibility of assets being seized or wages garnished. Experts in tax relief work with their clients to reduce their overall tax debt and can use a variety of methods to do so. Some such approaches include negotiating penalty abatement, setting up installment agreements with the IRS, and amending previous years' tax returns.

 

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Tax Relief In The News

Tax relief for victims of wildfires

Victims of wildfires that took place beginning on Nov. 8 in California may qualify for tax relief from the Internal Revenue Service. The President declared that a major disaster exists in the State of ...

Published:  Mon, 19 Nov 2018 10:45:00 GMT



Most low earners missing out on tax relief are women

The majority of low earners (74 per cent) missing out on pension tax relief are women, the government has revealed. In a written answer to Parliament yesterday (November 19), Lord Bates, international ...

Published:  Tue, 20 Nov 2018 00:47:00 GMT



Georgia Senate gives final approval to storm relief, airline tax bills

Less than nine months after state lawmakers shelved a tax break for airlines such as Delta when the company snubbed the National Rifle Association, all was forgiven Saturday. Breaking marketing ties w...

Published:  Sat, 17 Nov 2018 08:59:00 GMT



Exonerees Racing Against a Tax Clock

He is trying to get word out to defense attorneys and anyone who might know exonerees that a filing deadline for the Wrongful Conviction Tax Relief Act is Dec. 17. "No one else was going out and findi...

Published:  Mon, 19 Nov 2018 19:26:00 GMT



What's inevitable in an election year - taxes or tax relief

What's an elected official to do, in an election year, when there's a possibility that sitting on his or her hands could mean an additional $1.2 billion to spend Here's a hint from Senate Majority Le...

Published:  Thu, 15 Nov 2018 15:25:00 GMT



Hurricane relief, Delta tax break clear General Assembly

The Georgia Senate signed off Saturday on Hurricane Michael relief and a sales tax exemption on jet fuel, putting the wraps on a five-day special session of the General Assembly. Senators voted 43-9 t...

Published:  Sat, 17 Nov 2018 08:03:00 GMT



Why San Francisco's big business tax for homeless relief succeeded after Seattle's crumbled

Two tech hubs, two crises of homelessness, two taxes on big business, two very different outcomes. San Francisco voters on Tuesday approved a new tax on the city's top-grossing companies to double the ...

Published:  Wed, 07 Nov 2018 08:29:00 GMT



As Cuomo lauds Amazon deal, where's tax relief for the rest of NY (Editorial)

New York was always the odds-on favorite to win the national competition for Amazon's East Coast headquarters. The Big Apple has the nation's largest tech work force, and "the biggest factor driving o...

Published:  Sun, 18 Nov 2018 07:33:00 GMT



Letter, 11/18: Use resources to seek property tax relief

The prevailing political issue in this state is addressing high property tax rates, particularly in rural areas. Year in and year out, overburdened Nebraska taxpayers look to politicians for ...

Published:  Sat, 17 Nov 2018 20:55:00 GMT



Baker OKs tax relief for disabled

WESTFORD -- Disabled residents in town will soon be able to access new property tax exemptions up to $2,000 after a law approving the local change was formally signed by Gov. Charlie Baker. Efforts to ...

Published:  Fri, 16 Nov 2018 02:35:00 GMT




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