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Tax Relief in Alabama

Alabama MapEvery year, there are more people in Alabama who are suffering from outstanding tax debts. Whether these problems were caused because of inability to pay, tax preparation mistakes, or failure to file tax returns, these people are now stuck with mounting debts and few ways to get themselves out of the situation. Fortunately, there are tax relief companies out there that can help them. Tax relief companies work with people who owe back taxes to the state and the IRS and help them make their situation more tenable. Sometimes these companies can reduce their overall debt, the monthly installment, or find some other form of personal tax relief in Alabama that can ease their burden.

There are many different methods that you and your tax relief company can take. Some people who are looking for personal tax relief in Alabama will try to work out a reasonable installment plan with the government. Though this option will not lower your total debt, it will show the government that you are cooperative and will stop them from putting into motion other collective actions against you. The government is also usually pretty flexible with installment plans if you seriously lack the income to pay back the taxes. You can choose to pay very small installments, which may accumulate interest, or you can agree to make bigger payments in hopes of paying it off sooner. Either way, you will be showing the government that you are cooperative, and they will try to work with you.

Some of those who are looking for personal tax relief in Alabama instead try the Offer in Compromise method. In this program, the taxpayer must show two things to the IRS. First they must demonstrate that they are completely incapable of paying their tax debt because it is too large, and they lack the income or wealth to ever pay it off completely. Second, they must show that they are cooperative, and they can show this by making a high initial payment as well as paying all their new taxes completely for the next five years.

This program is very attractive because it can potentially reduce your tax debt by a large amount. However, those looking for personal tax relief in Alabama should remember that although the IRS OIC program is a possibility, there is no OIC program in Alabama, so any state back taxes will need to be resolved using other available options.

 

New Study Admits Even Modest Carbon Tax Would Hurt the Next Two Generations

The point of my article isn't to endorse the overall recommendation of Kotlikoff et al.; along with climate scientists at Cato, I've published a comprehensive critique of the usual economist's case ...

Published:  Tue, 18 Jun 2019 16:25:00 GMT



Alabama retail sales jump 11% in April

The state also collected for the month of April nearly $19 million in sales taxes from online-only and remote retailers participating in the Alabama Simplified Sellers Use Tax Program (SSUT). Since ...

Published:  Tue, 18 Jun 2019 12:39:00 GMT



State Tax Developments For Pass-Through Entities: Apportionment Of Income For Corporate Partners

Specifically, Alabama, California and Illinois require that the determination ... This theory is reinforced by the Multistate Tax Commission (MTC) regulations which construe the Uniform Division of ...

Published:  Tue, 18 Jun 2019 15:56:00 GMT



TWG seeks tax break for $26M apartment project at old IPS site

Curry said the tax abatement is an "integral part of this project ... The firm's in-house architecture team is working with Birmingham, Alabama-based firm Fifth Dimension on the project. TWG will also ...

Published:  Tue, 18 Jun 2019 09:08:00 GMT



Alabama sheriff resigns, to plead guilty in fraud, tax case

BIRMINGHAM, Ala. (AP) - An Alabama sheriff has resigned amid federal charges of wire fraud and filing false tax returns. U.S. Attorney Jay E. Town says an indictment unsealed Friday against Pickens ...

Published:  Fri, 14 Jun 2019 10:24:00 GMT



Al Horford opts out but seems on board with Celtics youth movement

Al Horford opts out but seems on board with Celtics ... and aiding Boston's cap/tax situation in the process. After battling knee soreness for much of last season, there's value in Horford cashing ...

Published:  Tue, 18 Jun 2019 17:14:00 GMT



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