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      November 18, 2018

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Tax Relief in Arkansas

Arkansas MapWith the deadline to file income taxes coming up, many people are getting a harsh reminder that they do not have much income or savings, and some of them may even owe taxes to the government. For a small segment of the population, the amount of taxes they owe the government is so large that it becomes a serious problem. When the government doesnít get paid the back taxes that they are owed, they may start garnishing wages, putting a tax lien on the personís property, and eventually even selling the property to pay off the debt.

Many people are currently struggling under this problem and are looking for personal tax relief in Arkansas. In some situations, the amount owed is not reasonable because of the personís low income and savings, and they need help working out an agreement with the government to get the problem resolved. Fortunately, there are tax relief companies that can help with this very problem. Tax relief companies can work with individual debtors and the government and help both parties come to an agreement or settlement. This can sometimes reduce the amount of money that is owed.

One program that you should consider if you are being crushed by tax debt is the Offer in Compromise program. This program is an option for people looking for personal tax relief in Arkansas because both the federal and state governments have official OIC programs.

Under this program, the taxpayer will have to show the authorities that they are suffering significant financial hardship and lack the ability to pay off this type of debt. Because the debt it so large, it is actually inhibiting their ability to make payments at all, and they need help. If the taxpayer can show this, and also show that there was a reasonable cause for this accumulation of tax debt, the government may offer them a settlement through the OIC program. This settlement could be a large reduction in the total debt owed.

For the tax authorities to consider someone for this program, the person must be very cooperative with them. Filing returns late or not at all or missing tax payments will significantly hurt a personís chances of being considered for this program. If someone is looking for personal tax relief in Arkansas, itís important that they get in touch with a tax relief company as soon as they can. This company has experience with Offer in Compromise agreements and might identify this, along with other options, to get you back on your feet.

 

Asa's tax cuts heavily favor the rich

Numbers don't lie. Check out the latest analysis by Arkansas Advocates for Children and Families on winners and losers under Gov. Asa Hutchinson's plan to cut income taxes by more than $200 million ov...

Published:  Thu, 15 Nov 2018 13:04:00 GMT



Arkansas governor's $5.75B budget includes teacher raises, tax cut

"There are always other ways to spend money. But this budget meets our state obligations, funds necessary services, increases teacher pay, meets the needs of public safety and continues to reform our ...

Published:  Wed, 14 Nov 2018 12:41:00 GMT



Abortion restriction, Internet sales tax first bills filed for Arkansas legislature

LITTLE ROCK, Ark. (AP) - A measure banning abortion based on a Down syndrome diagnosis and a proposal to require online retailers to collect Arkansas sales tax are among the first bills lawmakers file...

Published:  Fri, 16 Nov 2018 08:29:00 GMT



First bills filed for '19 session include online sales tax measure, official state firearm and knife designations

The first bills filed for the General Assembly's 2019 session would bar abortion on the basis of a Down syndrome diagnosis, overhaul Arkansas' partisan elections, require online retailers to collect s...

Published:  Fri, 16 Nov 2018 00:30:00 GMT



Asa Hutchinson Budget Includes Teacher Raises, Tax Cut

LITTLE ROCK - Arkansas' governor is proposing a $5.7 billion budget for the coming year that sets aside money for raising the minimum salaries for public school teachers and for his tax cut plan. Gov. ...

Published:  Wed, 14 Nov 2018 09:02:00 GMT



4 Tax Surprises You Might Face in Retirement

If the bulk of your retirement income comes from Social Security, then you might manage to avoid taxes on those benefits. But if you have additional income sources, and substantial ones at that, then ...

Published:  Sun, 18 Nov 2018 03:38:00 GMT



Hutchinson outlines budget for coming year; tax cuts the big ticket item

the biggest cut to come from a reduction in the top income tax rate from 6.9 to 6.5 percent in 2020 and further reductions to 6.3 percent in 2021 that he said would make Arkansas an economic magnet. H...

Published:  Wed, 14 Nov 2018 11:47:00 GMT



Arkansas Governor's Budget For Coming Year Includes Teacher Raises, Tax Cut

Gov. Asa Hutchinson presenting his proposed budget for the coming fiscal year to state lawmakers Wednesday. Credit Governor's Office / You Tube Arkansas's governor is proposing a $5.7 billion budget f...

Published:  Wed, 14 Nov 2018 08:47:00 GMT



Royals face 'tax nightmare' as US officials use Meghan's American citizenship to line up a raid on Harry's multi-million pound fortune

The Royal Family faces a tax 'nightmare' as US officials examine whether Meghan and Harry owe them a slice of their multi-million pound fortune, according to reports. The Duchess of Sussex is still an ...

Published:  Sun, 18 Nov 2018 11:12:00 GMT



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