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Tax Relief in West Virginia

The BLS (Bureau of Labor Statistics) current population survey (CPS) shows that the rate of unemployment in the state of West Virginia was 0.3 percentage points higher in December than the national rate. However, the number of unemployed people in the state was 45,694. Current Employment Statistics survey (CES) reported that in West Virginia, while employment peaked in May 2014 at 783,200, since then 10,400 jobs have been lost.

The results of the Census ACS 1-year survey for the state show that the median household income value was $41,253 in 2013. This value is $383 (0.92%) lower than the income of the residents in the year 2007, despite significant increases in the cost of gas, food and other necessitates. Similarly, the trends for median family income show that the values in 2013 are $1,506 (2.84%) lower after they peaked at $53,102 in 2008. Even more worrying is the fact that when compared with the national values, the West Virginia median family income is $12,434 lower on average.

Personal property tax is collected by the counties i.e. the local government, as well. Studies show that less than 1 percent (only 0.42 percent in 2013) goes to the state government. The primary beneficiaries to which the lion's share of the property taxes goes to are the county boards of education.

This brief glance at the state's personal taxes and average income indicates that residents may be struggling financially. A number of West Virginian's are likely to owe back taxes and be strategies to assist with minimizing taxes and penalties. Whether you're newly in tax debt or receiving threatening letters and more, tax relief companies can assist.

 

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Tax Relief In The News

Lamont offers more tax relief in jobs plan

Democrat Ned Lamont has come down hard on his GOP rival for proposing unprecedented tax relief with no plan to pay for it. But Wednesday, Lamont unveiled a jobs plan centered on three business tax ...

Published:  Wed, 19 Sep 2018 14:49:00 GMT



IRS Announces Tax Relief For Taxpayers Affected By Hurricane Florence

Carolinas' Coast Line Recovers From Hurricane Florence, As Storm Continues To Pour Heavy Rain On The States2018 Getty Images The Internal Revenue Service (IRS) has announced tax relief for victims of ...

Published:  Sat, 15 Sep 2018 11:42:00 GMT



Tax relief! You don't have to pay income tax on this money gift

zeenews.india.com understands that your privacy is important to you and we are committed for being transparent about the technologies we use. This cookie policy explains how and why cookies and other ...

Published:  Thu, 20 Sep 2018 00:07:00 GMT



ERDMAN: Nebraska needs property tax relief

Nebraskans desperately need property tax relief. Over the past ten years property valuations on agricultural land have increased 252 percent statewide and taxes have increased 162 percent. Meanwhile, ...

Published:  Sat, 15 Sep 2018 23:00:00 GMT



Sales tax exemptions eyed to fund Nebraska property tax relief

Nebraska's long list of state sales tax exemptions was identified Thursday as the best potential revenue source to help fund substantial local property tax relief during a legislative forum ...

Published:  Thu, 13 Sep 2018 13:30:00 GMT



Getting property tax relief

As we move forward to the general election, we must remember that state leaders can provide municipal property tax relief through their work on the next state biennium budget and I am asking that they ...

Published:  Mon, 17 Sep 2018 21:14:00 GMT



SW council adopts broad senior tax relief ordinance

SOUTH WINDSOR - The Town Council on Monday unanimously approved a senior tax stabilization ordinance, raising the annual income limits to include more seniors in town. Proposed by Deputy Mayor Andrew ...

Published:  Tue, 18 Sep 2018 10:16:00 GMT



CPAs Ask IRS For Penalty Relief Under Transition Tax Rules

Law360 (September 19, 2018, 4:58 PM EDT) -- IRS guidance on the new transition tax on foreign earnings hasn't yet answered questions that individuals, trusts and estates have about their tax liabiliti...

Published:  Wed, 19 Sep 2018 17:21:00 GMT



Trump's steep China tariffs won't include art and artifacts-to the great relief of concerned dealers.

U.S.-based dealers who deal largely with artwork made in China can breathe a sigh of relief. In July, a list of Chinese-made goods set to be hit with a 10 percent tax-as part of the trade war being wa...

Published:  Wed, 19 Sep 2018 09:48:00 GMT




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