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      May 25, 2018

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Tax Relief in Tennessee

Tennessee MapPersonal Tax refers to the tax on compensation earned by residents and nonresidents. These include wages and salaries along with interest, income from intangible property, dividends, and so on. Personal tax is one of the local taxes that fund governmental units, such as schools and other municipalities. Like six others states, including South Dakota, the state of Tennessee does not levy a personal tax, however, residents earning income from stocks, notes and bonds are considered to be earning taxable income. That tax has a flat rate of 6 percent.

Property tax also comes under personal taxes and the state of Tennessee levies this type of tax on its residents. It also offers tax relief to elderly and disabled property owners. The degree of tax relief provided through such programs takes into account the market value of the property in question.

For the rest of the residents, tax debt could very well become a reality. Delinquency concerning the amount owed to the IRS can lead to the issuance of a warrant/lien against you and your assets. The warrant makes it possible that any (or all) assets owned by you can be seized and then sold off to pay your debt. Other penalties keep being incurred, as the time passes. The only solution to this problem is to look for a tax consultant from a firm that offers tax relief.

The industry of tax relief keeps on increasing exponentially with a multitude of companies joining this race year after year. Helping the client get out of tax debt is paramount to a tax relief company. Strategies employed by such companies include negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review. Instead of waiting for the IRS to seize your assets, you should retain the services of a tax relief firm to assist.

 

Map of the Day: Beer Taxes in Every State

which shows that Wyoming taxes beer the least, just 2 cents per gallon, while Tennessee has the highest tax at $1.29 per gallon. The tax rules can get complicated, with some states applying different levies depending on the strength of the beer ...

Published:  Thu, 24 May 2018 15:22:38 GMT



Opportunity for Tennessee: Chuck Schwab expects more companies to flee high-tax states

The Charles Schwab annual meeting at the company's San Francisco headquarters this week provided an opportunity to ask one of the city's most prominent business leaders a question on the minds of many these days: Will a new California tax law capping ...

Published:  Thu, 17 May 2018 04:08:00 GMT



Trump to rally in Tennessee, boost GOP Senate candidate Blackburn

Tennessee, his campaign announced Saturday. "The President looks forward to being with patriotic Tennesseans once again as he celebrates this booming economy that's helping families throughout the state thanks to his historic tax cuts and job-creating ...

Published:  Sat, 19 May 2018 14:58:00 GMT



Tennessee Revenues Higher Than Expected In April, Show Increase From Previous Year

Tennessee Department of Finance and Administration Commissioner ... "Much of the growth is driven by franchise and excise tax payments, business tax receipts, privilege taxes and sales tax revenues. Hall income tax revenues posted a significant reduction ...

Published:  Mon, 14 May 2018 08:11:00 GMT



School shootings spurred Livingston Parish sheriff's quest for tax to put deputies in schools

If Livingston Parish residents pass the half-cent sales tax Nov. 6, the school system would become one ... after Sheriff William Earl Hilton attended a conference in Nashville, Tennessee, where the subject came up, and he decided he wanted it for the ...

Published:  Sat, 19 May 2018 15:32:00 GMT



Live at 9: Dale Lane for sheriff, sports betting in Tennessee & music

Some Tennessee lawmakers are making plans to legalize sports betting following last week's Supreme Court decision to allow states the freedom to do so. Senator Brian Kelsey says taxes from sports betting could boost education spending he explains how and ...

Published:  Tue, 22 May 2018 09:29:00 GMT



Sen. Marco Rubio's comments on GOP tax cuts draw accusations of inconsistency

Marco Rubio sure sounded like someone who didn't think much of the GOP's tax cuts when he complained recently that ... Ted Cruz of Texas and Bob Corker of Tennessee also have had very harsh words for Trump at some point only to make peace and cooperate ...

Published:  Wed, 16 May 2018 07:30:00 GMT



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