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      May 21, 2018

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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.

 

Taxes too high Pa. residents could move to Wyoming, South Dakota, or Alaska | Opinion

The states are often referred to as laboratories of democracy, and the more laboratories we have, the more likely we are to come across a Frankenstein over the long haul. It's pretty clear that Dr. Frankenstein has been hard at work at this point, and we ...

Published:  Mon, 21 May 2018 02:00:00 GMT



Senator Eyes Canada Oil Tax After Alaska Drilling Clash

As Alaska's congressional delegation worked feverishly last year to achieve the decades-long dream of drilling for oil in the Arctic National Wildlife Refuge, they came across a formidable opponent: Canada. The Canadian government was concerned about the ...

Published:  Thu, 10 May 2018 14:08:13 GMT



Alaska Communications Announces Exemption Process for Tax Benefits Preservation Plan

Alaska Communications (News - Alert) (NASDAQ: ALSK), the leading provider of advanced broadband and managed IT services for businesses and consumers in Alaska, today announced that its Board of Directors, in consultation with its legal, tax and financial ...

Published:  Tue, 15 May 2018 16:13:00 GMT



Alaska Airlines, Expedia denounce head tax in letter to Seattle Council

Over 100 business leaders from Seattle-area companies, including Alaska Airlines, Expedia, and Tableau, warned Seattle City Council in a letter Tuesday that the proposed employee head tax was a "misguided" plan. "We oppose this approach, because of ...

Published:  Tue, 08 May 2018 14:52:00 GMT



Alaska lawmakers OK crime bill, bonding to pay tax credits

JUNEAU, Alaska (AP) - The Alaska Legislature has passed a measure aimed at paying off the state's oil tax credit obligations through bonding. Legislators also approved a package aimed at addressing crime concerns. The bonding bill passed despite ...

Published:  Fri, 11 May 2018 18:34:00 GMT



Alaska marijuana businesses outgrow approval system

The state excise tax will eventually need to be revised, he said. State tax records show increasing amounts of marijuana in Alaska is being bought and sold every month. In October 2016, a handful of growers paid a total of $10,000 in taxes to the state.

Published:  Wed, 16 May 2018 01:00:00 GMT



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