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Tax Relief in Nebraska

In Nebraska, a number of taxes affect residents overall tax burden. The state levies a personal income tax with a top rate of 6.84%, 15th highest among those state that collect an individual income tax. This tax, in combination with other local taxes, results in an average of $938 per person annually, 21st highest nationwide.

With respect to property tax, Nebraskans pay an average of $1,566 per person, which ranks the state 14th highest in the United States. However, the state is 18th lowest when looking at individual federal income taxes; its average of $9,200 is lower than the national average by more than $2,000.

While Nebraskans have a median household income of $53,774, slightly higher than the national average of $51,939, the state has not been immune to the financial challenges that have affected the United States in recent years. Nebraska has experienced a decline of more than 6.5% in the average household income, and this decline has caused residents of the state to seek out tax relief as one approach to increasing financial struggles.

Tax debts can mount as individuals use their limited financial resources to meet their most pressing needs: sending in the mortgage payment, paying the electric bill, putting food on the table, or taking a sick family member to the doctor. When people have little-to-no money left at the end of the month, they rarely think to set aside any savings for the April 15th tax bill and wind up with significant amounts of tax debt.

Tax debt is an area where Nebraskans face difficulties, with the stress of owing state and federal tax authorities and the possibility of garnished wages and seized assets. Tax relief companies work with clients to find solutions to serious tax problems, and in some cases can even reduce clients? overall tax debt. Experts in tax relief make use of a number of strategies to help clients; some of those tools are traditional or streamlined installment agreements with the IRS, penalty abatement, and audit reconsideration.

 

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Tax Relief In The News

The Ultra-Rich Are Finally Getting Relief From Their Estate-Tax Burden

Under siege and weary from their crushing financial burden, the nation's ultra-rich are finally getting the tax relief they so desperately need. We wish we could feel not only their pain but also the ...

Published:  Mon, 12 Nov 2018 21:28:00 GMT



Optima Tax Relief Bootstraps Their Way To 550 Employees And Growing

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Published:  Wed, 31 Oct 2018 20:50:00 GMT



$13M property tax relief grants available for S. IL schools

MARION, IL (KFVS) - Applications for property tax relief grants to eligible school districts in Illinois are being accepted. According to Rep. Dave Severin (R-Benton) this property tax swap is intende...

Published:  Thu, 01 Nov 2018 07:56:00 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



UK tax relief reintroduced for acquired goodwill with 'strong connection' to IP

The UK government intends to re-introduce tax relief for acquired goodwill, but only to the extent that it has a 'strong connection' to intellectual property (IP) itself qualifying for relief, a consu...

Published:  Mon, 12 Nov 2018 02:41:00 GMT



What does the removal of lettings tax relief mean for landlords

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Published:  Thu, 08 Nov 2018 05:34:40 GMT



The Latest: Nevada voters OK medical equipment tax relief

LAS VEGAS (AP) - The Latest on Tuesday's midterm election in Nevada (all times local): 12:50 a.m. Nevadans have passed a measure granting tax exemption for prescription medical equipment such as oxyge...

Published:  Wed, 07 Nov 2018 23:55:00 GMT



U.K. Shops Set for $519 Million Tax Relief in ATM Case, PA Says

Leading retailers are poised to secure a tax reprieve of as much as 400 million pounds ($519 million) after appeal judges ruled business rates shouldn't be imposed on cash machines in shops, the Press ...

Published:  Sat, 10 Nov 2018 02:31:00 GMT



Gaming, Tax Relief, Sugar Tax: Palos Referenda Vote Results Here

PALOS TOWNSHIP, IL -- Palos Heights and Palos Township residents were asked to consider a variety of referendums on Tuesday's ballot, ranging from video gaming and a fire protection district tax ...

Published:  Sun, 04 Nov 2018 22:07:00 GMT



Scott Wagner concedes Pa. Gov. race but asks Wolf to push for property tax relief

Scott Wagner campaigned for governor on a promise to eradicate school taxes. While the election didn't go his way, Wagner continued his push against school property taxes in his concession speech Tues...

Published:  Tue, 06 Nov 2018 20:32:00 GMT




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