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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

Budget 2019: Here's how much income tax relief Modi-Jaitley have given in last 4 years

Budget 2019: With the Union Budget 2019 just around the corner, expectations are flying high over a massive relief in income tax, with some reports claiming that the exemption limit may be raised to u...

Published:  Thu, 17 Jan 2019 03:07:00 GMT



Property tax relief alternative would increase sales tax

On Day 6 of the 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 while ...

Published:  Wed, 16 Jan 2019 13:00:00 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 01:00:00 GMT



Russia expands list of oil refineries eligible for tax relief

MOSCOW, Jan 17 (Reuters) - Russian has expanded the list of oil refineries eligible for so-called reverse excise tax after they agreed to invest around 300 billion roubles ($4.5 billion) to upgrade ca...

Published:  Thu, 17 Jan 2019 06:12:00 GMT



Some individual taxpayers get relief from underpayment penalty

... estimate their 2018 tax liability because of the many changes enacted in the law known as the Tax Cuts and Jobs Act, P.L. 115-97, the IRS issued relief from the penalty for underpayment of estimat...

Published:  Thu, 17 Jan 2019 11:14:00 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



Gov's budget includes property tax relief, prison beds, medicaid expansion

WEBVTT [APPLAUSE] ANDREW: GOVERNOR PETE RICKETTS SAYS NEBRASKA'S ECONOMY IS STRONG AND GROWING, BUT TAXES ARE TOO HIGH. )) PROPERTY TAX RELIEF IS THE NUMBER ONE PRIORITY NEBRASKANS WANT AS I TRAVEL TH...

Published:  Tue, 15 Jan 2019 21:15:00 GMT



Tax Relief is on the Agenda in Austria

Last week, the Austrian cabinet met to plan the political agenda for 2019 and outline plans for changes to tax policy that will take place over the next few years. The current government has been in p...

Published:  Mon, 14 Jan 2019 09:37:00 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



Start-ups seeking angel tax exemption get relief

The government has eased the norms under which start-ups can apply for exemption from the angel tax which would otherwise be applicable on them. The angel tax applies to unlisted companies that have r...

Published:  Thu, 17 Jan 2019 09:06:00 GMT




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