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      September 19, 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.

 

In Tax-Free States, Businesses Squirm At Collecting Online Sales Taxes For Others

The New Hampshire case illustrates the complexities of collecting online sales taxes, especially for retailers in New Hampshire and the other four states (Alaska, Delaware, Montana and Oregon) that do...

Published:  Mon, 17 Sep 2018 08:08:00 GMT



Letter: Don't diminish the dividend

If the present administration feels the state is in dire need of funds to operate, why doesn't it institute a state income tax instead of raiding the Alaska Permanent Fund dividend Raiding the divide...

Published:  Tue, 18 Sep 2018 01:04:00 GMT



Alaska monthly marijuana tax tops $1M for sixth time in 2018

ANCHORAGE, Alaska (KTUU) - Monthly marijuana tax revenues have topped $1 million for the fifth straight month and for the sixth time this year. The state said Wednesday that it had collected nearly $1 ...

Published:  Wed, 05 Sep 2018 18:38:00 GMT



BP outlines economic impact to Alaska

Here is a look at BP's economic impact to Alaska by the numbers. The company supports more than 8,300 jobs across the state. In 2017, it says it spent more than $855 million with vendors and paid $543 ...

Published:  Tue, 18 Sep 2018 22:26:00 GMT



Governor postpones panel's carbon tax proposal

Amid a tough race for re-election, Alaska Gov. Bill Walker (I) postponed the rollout of a state advisory board recommending a carbon tax, a politically charged issue that some say could jeopardize his ...

Published:  Fri, 14 Sep 2018 09:12:00 GMT



Alaska's Permanent Fund a top issue in governor's race

Alaska Gov. Bill Walker, an independent, is running for re-election. David Lienemann/Office of the Governor In 2016, Walker cut the amount disbursed to residents through the fund - an investment fund ...

Published:  Thu, 13 Sep 2018 13:50:00 GMT



Class Cert. Sought In Sales Tax Row With Retailer LuLaRoe

Law360 (September 6, 2018, 6:20 PM EDT) -- A putative class action has been filed against fashion retailer and multilevel marketing company LuLaRoe in an Alaska federal court for allegedly charging sa...

Published:  Thu, 06 Sep 2018 15:50:00 GMT



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