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      February 18, 2019

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Tax Relief in Alaska

Alaska MapAlthough many in Alaska are doing very well financially, there is also a significant portion of the population that is suffering under crushing tax debt and lacks the income and assets to reasonably pay off the debt. For these individuals, it can be a very difficult and frightening situation.

In these situations, a resident of Alaska has the option to study up and become familiar with the state and federal laws on how to negotiate and best manage outstanding tax debt or ask for help from an expert. However, if outstanding tax debt is not paid the government can garnish wages, add additional interest and penalties, put a tax lien on their property, and then eventually sell the property to pay off the back taxes.

One way a tax relief company can reduce the tax burden is by helping the person file or amending past tax returns. These tax debt situations often arise when an individual failed to file tax returns in the first place. Once the tax authorities discover that this has happened, they will file a substitute for the returns themselves, but they will file the return using the minimal exemptions and deductions. This often results in the individual owing more income tax than if he had filed the return for himself.

In these situations, a tax experts can help you get personal tax relief in Alaska by filing those past returns. When they are correctly filed, they will make maximum use of the exemptions and deductions that apply to you and your overall tax debt will decrease. Though this method would not give complete personal tax relief in Alaska, it would give a person some needed breathing room.

Filing an old return or amending an incorrect return are just a few possible ways that a tax relief company can help some who owes back taxes to the government. By working with a company, an individual will be able to take advantage of all the options available and hopefully reduce their debt burden to something more manageable.

 

Why I support a municipal alcohol tax

We're tired of subsidizing the effects caused by alcohol through our taxes. In 2015, it was estimated that alcohol abuse in Alaska cost more than $1.8 billion when considering alcohol abuse prevents p...

Published:  Sun, 17 Feb 2019 16:13:00 GMT



Fashion faux pas MLM company LuLaRoe sued in Alaska over sales taxes.

LuLaRoe clothing is known for soft, stretch knit items like leggings and skirts. It's also a multi-level marketing company, like Mary Kay or Herbalife, and customers can buy clothing from their friend...

Published:  Fri, 15 Feb 2019 19:57:00 GMT



Alaska fishing towns would forfeit $28M in fish tax under Dunleavy budget

Governor Mike Dunleavy's proposals for balancing the state's budget include a plan to stop sharing of millions of dollars in taxes on commercial fishing with coastal communities. "The governor's budge...

Published:  Fri, 15 Feb 2019 16:54:00 GMT



Interior Alaska officials give Dunleavy's pipeline tax bill a thumbs down

FAIRBANKS - Borough Assembly members said they oppose legislation to divert property taxes on the trans-Alaska oil pipeline to state coffers. It would cause a shortfall of about $11 million at the Fai...

Published:  Fri, 15 Feb 2019 10:47:00 GMT



How much money you take home from a $100,000 salary after taxes, depending on where you live

Seven US states have no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. New Hampshire and Tennessee don't have a state income tax, either, but they do tax inte...

Published:  Wed, 13 Feb 2019 15:58:00 GMT



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