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      July 21, 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.

 

Tennessee Now Has the Highest Sales Tax in the Country

Tennessee now has the highest sales tax in the country, with an average combined local/state rate of 9.46 percent. The jump from second to first came after Louisiana legislators lowered the state's ra...

Published:  Thu, 19 Jul 2018 13:51:00 GMT



Tennessee's tax-free weekend: What's included, excluded

Tennessee's tax-free weekend: What's included, excluded Tennessee's tax-free weekend: What's included, excluded We tell you, and advise you to prepare for crowds July 27-29. Check out this story on ...

Published:  Fri, 20 Jul 2018 04:24:00 GMT



Tennessee has the highest sales tax in the nation

Tennessee just beat out Louisiana for a new state title: highest sales tax in the U.S. Tennessee has a combined state and local sales tax of 9.46 percent, according to a new report from the Tax Founda...

Published:  Thu, 19 Jul 2018 03:18:00 GMT



Louisiana, Tennessee in close contest for highest sales tax rate

After two years of carrying the highest average sales tax rate in the country, Louisiana has a shot of losing that title to Tennessee, though the two states are expected to have rates that are virtual...

Published:  Tue, 10 Jul 2018 17:01:00 GMT



The Finance 202: Republicans have a tax-cut problem. Here's how they want to fix it

"President Trump's tax cuts have really transformed the future of America ... in the South from more economic blowback from U.S. allies. The Alabama Democrat and Tennessee Republican said on Wednesday ...

Published:  Thu, 19 Jul 2018 05:05:00 GMT



Tennessee's Sales Tax is the Highest in the Country

Tennessee no longer has the second highest sales tax rate in the country. It's now the highest - if only slightly. That designation before July 1st belonged to Louisiana, which had and average local a...

Published:  Thu, 19 Jul 2018 04:50:00 GMT



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