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Tax Relief in Florida

Florida MapThough many people in Florida struggle intermittently under credit card debt, there is a smaller population that faces even greater problems because they are stuck with thousands of dollars of tax debt. These people accrue tax debt when they fail to pay the amount indicated on their tax returns or when they fail to file returns at all. Like other forms of debt, tax debt can create an extremely difficult situation for the many people involved because usually they lack the income and assets to quickly pay it off. In that case, the federal government and the state government will start hounding them for payments and initiating collection actions if payments arenít forthright. Some of the possible collection actions include garnishing of wages, tax liens on property, and seizure of property.

People who get in these situations often are already struggling with low wealth and income and may already owe credit card and mortgage debts. Without the right help, these situations can seem hopeless.

For those looking for personal tax relief in Florida, one option is applying for the stateís formal Offer in Compromise program. Offer in Compromise programs give taxpayers the opportunity to settle their tax debt with the government and agree to pay a reduced total amount. It is very difficult to achieve these agreements, and the help of a professional tax relief company can increase the likelihood of success. Tax authorities typically only agree to an OIC if the person does not have the financial capacity to pay the full amount, so the person will first have to send all their financial information to the appropriate officials.

OIC agreements work differently in different states. The OIC agreement will not reduce the tax debt to zero, but it can significantly reduce the debt, so that itís less of a burden. Typically, a state will have a sliding scale based on the debt owed and the amount of wealth and income of the individual. That sliding scale will determine how much, if any, of the debt is reduced. People who are looking for personal tax relief in Florida often have difficulty navigating this process alone. A tax relief company has the experience to help this run smoothly.


Florida Republican to Introduce Carbon-Tax Bill

A Florida Republican is set to propose a carbon-tax bill in Congress next week, hoping to generate new traction for climate-change efforts in the face of GOP leadership pushing firmly the other way. T...

Published:  Thu, 19 Jul 2018 09:39:00 GMT

Ex-Florida State LB Ken Alexander faces tax fraud charges

TALLAHASSEE, Fla. -- A Florida attorney who started at linebacker for Florida State's 1993 national championship team is facing federal tax fraud charges. Court records show that a federal grand jury ...

Published:  Thu, 19 Jul 2018 15:35:00 GMT

Florida Republican's Bill Would Replace Gas Tax with Carbon Tax

Florida Representative Carlos Curbelo is planning to introduce a tax reform bill on Monday that would replace the federal gasoline tax with a carbon tax. It would add three to 11 cents to a gallon of ...

Published:  Thu, 19 Jul 2018 09:46:00 GMT

Former Florida State Seminole Ken Alexander indicted by feds on tax fraud charges

Former Florida State Seminole Ken Alexander indicted by feds on tax fraud charges Former Seminole Ken Alexander was a star linebacker on FSU's 1993 national championship team Check out this story on t...

Published:  Thu, 19 Jul 2018 13:57:00 GMT

Irma destroyed this Keys hospital. Now, it will get some big help - thanks to new tax.

Hall said Wednesday's vote is only "setting up the bucket into what tax dollars would be collected," and it has to go through negotiations between the county and Baptist Health South Florida. Marathon ...

Published:  Wed, 18 Jul 2018 16:41:00 GMT

Are Property Taxes Going to Rise in Palm Beach, Florida

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Q: I'm thinking about buying a home in Palm Beach, Florida, but I hear they may raise proper...

Published:  Thu, 19 Jul 2018 03:55:00 GMT

Report cautions states against reliance on sin taxes

Sin taxes, which are taxes on tobacco ... States that have opened their first casinos and racinos since 2006 -- Florida, Kansas, Maryland, Ohio and Pennsylvania -- saw strong revenue increases between ...

Published:  Thu, 19 Jul 2018 17:10:00 GMT

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