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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

Homeowners can now enjoy 15pc tax relief

The tax relief at 15 per cent of gross emoluments will be extended to Kenyans aspiring to buy homes under the scheme, but will not exceed Sh108,000 per year. The amendment to the Income Tax Act, signe...

Published:  Wed, 18 Jul 2018 14:58:00 GMT



Uhuru signs law on tax relief for low-cost housing beneficiaries

President Uhuru Kenyatta yesterday signed into law a Bill creating a 15 per cent tax relief for Kenyans buying houses under the Affordable Housing Scheme. The President signed an amendment to the Inco...

Published:  Wed, 18 Jul 2018 14:28:00 GMT



David Watt: Claiming tax relief for museums and galleries need not be too taxing

In the context of ongoing uncertainty around cultural funding, the launch of a tax relief for museums and galleries is welcome news. A tax relief will never replace funding, and specifications and lim...

Published:  Mon, 16 Jul 2018 22:17:00 GMT



Beneficiaries of affordable housing scheme to get 15pc tax relief

President Kenyatta approved amendments to VAT Act to effect zero rating of ordinary bread, copra, linseeds and mustard seeds President Uhuru Kenyatta has signed into law a Bill creating a 15 percent t...

Published:  Wed, 18 Jul 2018 06:49:00 GMT



7th Pay Commission: How to claim tax relief for arrears

New Delhi, July 17: With the 7th Pay Commission recommendations being implemented, government employees are paid arrears of salaries and allowances with a retrospective effect. For the financial year ...

Published:  Tue, 17 Jul 2018 00:18:00 GMT



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



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



Residents ask APS to lower property tax rate more than 1-mill proposal

The call for tax relief came during two public hearings Monday that the Atlanta Board of Education is required to hold before it sets a millage rate, currently at 21.74 mills. The third and final publ...

Published:  Mon, 16 Jul 2018 19:01:00 GMT



Uhuru approves law granting 15 percent tax relief to affordable housing beneficiaries

NAIROBI, KENYA: President Uhuru has signed into law a Bill creating a 15 per cent tax relief for Kenyans buying houses under the Affordable Housing Scheme. ALSO READ: Mystery of Sh1.5b faulty air forc...

Published:  Wed, 18 Jul 2018 06:38:00 GMT




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