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Tax Relief in Kentucky

Kentucky MapKentucky residents face significant challenges when considering the state’s statistics with respect to personal tax liability. A primary reason for these challenges is the sharp decline in the median household income: Kentucky’s median dropped sharply, by 18.5%, to $42,158. This places Kentucky with 44th lowest income level in the nation.

Because of its lower household income levels, Kentucky ranks 47th in the average amount of federal income tax collected per resident: $8,057, well below the national average of $11,715. Also, Kentucky has the 5th lowest property tax collection rate in the United States, with an average of $689 per resident.

However, despite its considerably lower income levels, Kentucky does rank 15th highest nationally with respect to state and local income taxes collected. In an average year, Kentucky collects $1,033 per person.

This combination of lower incomes and higher taxes, along with individual struggles with unemployment, medical bills, and other unforeseen events has resulted in a considerable number of Kentuckians with delinquent state and federal tax payments. It is hard to put money into savings to pay federal and state tax bills when there isn't even enough to pay for immediate needs of food, shelter, clothing, and transportation to work. Tax relief is becoming more popular as residents look for help in meeting their financial obligations.

Tax relief companies are structured so as to help clients address their tax struggles and avoid the pressure of owing the IRS and state tax authorities, along with the possibility of having assets seized or wages garnished. Experts in tax relief use a wide variety of methods to help clients with their delinquent taxes; some examples are a complete investigation of clients’ current financial status, preparing a resolution proposal for the IRS, and setting up a personalized payment plan for tax debt.

 

Senate approves long-delayed tax treaties in win for business

How to restore accountability to the federal regulatory system MORE (R-Ky.) and Mike Lee Michael (Mike) Shumway Lee Senate ratifies long-stalled tax treaty On The Money: Senators unload on ...

Published:  Wed, 17 Jul 2019 10:45:00 GMT



Senate Approves Tax Treaties for First Time in Decade

North American Stainless is a subsidiary of Spain-based Acerinox and employs about 1,500 workers in Kentucky. A company executive told a Senate panel in 2014 that ratifying the tax protocol with Spain ...

Published:  Wed, 17 Jul 2019 10:54:00 GMT



Kentucky Republican senators divide on tax treaties package

In a bit of a cross-state rivalry, Kentucky GOP Sens. Mitch McConnell and Rand Paul took swipes at each other on the Senate floor over a package of tax treaties with Spain, Japan, Luxembourg and ...

Published:  Wed, 17 Jul 2019 12:43:00 GMT



Kentucky Skirmish: Mitch McConnell Irks Rand Paul With Push on Tax Treaties

WASHINGTON-Rand Paul has spent eight years in the Senate at odds with fellow Kentuckian and Republican Mitch McConnell, supporting marijuana legalization, tying up the chamber floor with a filibuster ...

Published:  Tue, 16 Jul 2019 16:05:00 GMT



House Vote to Repeal Obamacare Tax Shows Health Care Tension

Senate Majority Leader Mitch McConnell, a Kentucky Republican, hasn't committed to addressing the issue in his chamber. Because the repeal effort is led by Democrats, it sets up a path for McConnell ...

Published:  Wed, 17 Jul 2019 01:00:00 GMT



House votes 419-6 to ax 'Cadillac tax' in health care law

Senate Majority Leader Mitch McConnell, a Kentucky Republican, hasn't committed to addressing the issue in his chamber. Because the repeal effort is led by Democrats, it sets up a path for McConnell ...

Published:  Thu, 18 Jul 2019 01:53:00 GMT



House Democrats join Republicans to repeal Obamacare's "Cadillac tax'

Repeal of the tax is one of the few significant measures related to the ... The Senate has a similar bill with bipartisan support, but Senate Majority Leader Mitch McConnell, Kentucky Republican, has ...

Published:  Wed, 17 Jul 2019 17:29:00 GMT



School district says tax bump will supplement teacher pay

A Mississippi school district is requesting a local tax increase to give teachers a pay supplement. WAPT-TV reports the Rankin County School Board advanced the plan Wednesday to give teachers an extra ...

Published:  Thu, 18 Jul 2019 01:47:00 GMT



Democrats Spotlight Health Care Tensions in Obamacare Tax Repeal

Senate Majority Leader Mitch McConnell, a Kentucky Republican, hasn't yet committed to addressing the issue in his chamber. Because the repeal effort is led by Democrats, it sets up a path for ...

Published:  Wed, 17 Jul 2019 01:00:00 GMT



Rand Paul: Tax Cuts For Corporations Can Add to the Deficit But 9/11 Victim Relief Shouldn't

Rand Paul supports adding to the national debt if it also means slashing the tax rate for corporate America. If it means paying for health care for ailing 9/11 first responders? That, the Republican ...

Published:  Wed, 17 Jul 2019 08:43:00 GMT



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