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Tax Relief in South Dakota

The residents of South Dakota are in a better position when it comes to personal taxes, as compared to the rest of the country. South Dakota does not levy an individual State tax and it is one of the only seven states to do so. Personal and property taxes, together, are the local taxes which fund governmental units, including schools systems and the municipalities of South Dakota. Both types of taxes are not collected or used by South Dakota's revenue department, however, the department does assess the property of large companies.

Falling prey to a decrease in the median household income, along with the rest of the country, the figures reached a value of $48,947 in 2013 (latest figures available). This drop was from $49,064 the year before that. Looking at these figures, it is understandable that some South Dakotans may be experiencing financial issues such as tax debt. Compounding the issue are the factors such as unemployment, low minimum wages, and recessions, and several may be searching for tax relief programs in their State.

The past few years have seen an exponential growth in the industry of tax debt relief to help individuals and families. The multitude of companies joining this race is only increasing. The reason for this is that tax relief companies employ various strategies to help their clients with their tax debts. Among the tools used are negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review. Owing the IRS and other state tax authorities is not only stressful but may eventually lead to seizure of your assets and bank accounts. Residents that have fallen into tax delinquency and debt can avail themselves of the services of such companies. These firms will help them minimize or eliminate their debt in a limited amount of time, in lieu of shelling out cash year after year to the tax authorities.

 

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Tax Relief In The News

Smaller Tax Refunds Surprise Those Expecting More Relief

The tax preparers at H&R Block had to take a new class before their busy season started this year: empathy training. They listened to a mock exchange between an employee and a customer whose refund wo...

Published:  Wed, 13 Feb 2019 12:55:00 GMT



Critics say tax relief legislation would widen racial inequities

RICHMOND - Members of progressive groups are seeking to hold Gov. Ralph Northam to his promise to focus the remainder of his term on racial equity and to help reconcile Virginia's long history of raci...

Published:  Thu, 14 Feb 2019 10:22:00 GMT



Supporters, opponents speak out on $700 million property tax relief plan

WEBVTT ANDREW: A LEGISLATIVE HEARING ROOM, FULL OF FARMERS ANGRY THAT THEIR PROPERTY TAXES ARE CHOKING THEM OFF THEIR LAND. )) THE DREAM'S OVER, I'M GONE. YOU SAY NOBODY LEAVES BECAUSE OF TAXES, THIS ...

Published:  Fri, 15 Feb 2019 01:30:00 GMT



Multiple property tax relief bills introduced

LINCOLN, Neb. (KOLN) - On Thursday at the State Capitol legislators heard testimony for two different bills aimed at lowering property tax in Nebraska. Lb-314 would take money from a bunch of places t...

Published:  Thu, 14 Feb 2019 17:05:00 GMT



Lamont offers business tax relief, enhanced digital services

Gov. Ned Lamont unveiled his long-anticipated proposal Thursday to eliminate the business entity tax, a $250 fee nearly all Connecticut businesses pay once every two years. The governor, who must deli...

Published:  Fri, 15 Feb 2019 06:37:00 GMT



Virginia Gov. Signs Tax Conformity And Relief Legislation

Law360 (February 15, 2019, 7:27 PM EST) -- The governor of Virginia signed off on a sweeping tax bill Friday that conforms the state to the 2017 federal tax code, while granting $1 billion in new dedu...

Published:  Fri, 15 Feb 2019 16:39:00 GMT




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