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Tax Relief in New Jersey

New Jersey residents face some of the highest tax rates in the nation across multiple categories. With respect to property taxes, for example, the state collects an average of $2,893 per person, the highest amount out of all fifty states. New Jersey's top-tier personal income tax bracket ranks sixth highest nationwide at a rate of 8.97%. That tax, in conjunction with local taxes, results in an average collection of $1,204 per person, ninth highest overall in the United States. High local and state taxes can leave residents of New Jersey struggling to meet their everyday needs - rent, groceries, utilities, and so forth - while setting aside savings to pay their April 15th tax bills.

New Jersey's average federal income tax collection per person is also significantly higher than the national average of $11,715: a typical New Jersey resident pays $15,786 in federal income taxes, with higher amounts being collected only in Connecticut, District of Columbia, and New York.

Also, despite New Jersey having one of the highest median household incomes in the nation ($61,782), residents have also felt the impact of the 21.4% decline in average income over the past few years. This downturn, in combination with significantly high tax rates, have resulted in many individuals in New Jersey looking to tax relief as a way to alleviate the stress of owing money to federal and state tax authorities.

Tax relief companies provide clients with solutions to their serious tax problems, and can even help them to reduce their overall tax burden. Tax relief experts work with their clients to find the approach that best meets their personal needs, choosing from a large number of possible strategies available to New Jersey residents. These strategies can include negotiation of penalty abatement, audit representation and reconsideration, investigation of tax levies and liens, and setting up payment plans with the IRS.

 

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Tax Relief In The News

Alcohol industry pushes lawmakers to uncork excise tax relief

The alcohol industry is pressing Congress to make permanent the excise tax relief it received under the Republican tax law. The measure President Trump Donald John Trump Oregon governor to face state rep in November Ashford, Eastman neck and neck in ...

Published:  Wed, 16 May 2018 03:00:10 GMT



Pot may provide tax relief for new school in Easthampton

EASTHAMPTON - Proponents of recreational marijuana have long touted the tax benefits of legalization. Now Easthampton may use those benefits to address rising property taxes. Introduced by Councilor Owen Zaret, a resolution referred to the City Council ...

Published:  Fri, 18 May 2018 20:28:00 GMT



Tax Relief Associates Offers Back Tax Help

A notice and demand is mailed to the taxpayer, and when the demand for payment is not satisfied, the IRS sends the balance due account to a revenue officer in the field; The revenue officer pursues administrative levies, seizures, or judicial collection ...

Published:  Tue, 15 May 2018 10:52:00 GMT



The limits of agricultural relief - How not to get hit with a massive tax bill when inheriting land

Everything you need to know about paying stamp duty on land transfers between... Martin O'Sullivan If a day passes that I do not receive a query on the tax implications of farm succession it's probably because the day is good and farmers are out making the ...

Published:  Sat, 19 May 2018 08:16:00 GMT



Reg relief, tax cuts, the war for talent: What's on midsize banks' radar

Most of the analysis of the regulatory relief bill that passed the Senate earlier this year has focused on how it will help small and regional banks, but the measure - which could face a House vote as early as next week - also contains provisions that ...

Published:  Wed, 16 May 2018 11:40:00 GMT




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