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Tax Relief in Utah

Utah MapTax debt has become a living and breathing problem in the country, necessitating the need for tax relief. The business of offering tax relief to residents has boomed in the past five years. With passing time, more and more firms become a part of it. To offer tax relief, a company may use a variety of methods. These include audit representation, negotiated penalty abatement and reconsideration, and tax return amendment and review.

There are two types of taxes levied by the local government: personal income and property tax. When paid by residents and nonresidents of a state, this money goes to ensure that schools and other municipality systems keep running. Personal income tax is actually based on an individual’s wage or salary. Some states, as if Texas, South Dakota and Tennessee do not collect this tax, at least on the state level. While others like the state of Utah, have a personal income tax in place. The residents of Utah pay a tax at a flat rate of 5 percent. Before 2008, however, there used to be multiple brackets for this tax category.

Exempted from paying the income tax are residents earning $2,850 for single filers while for joint filing, the amount is $5,700. This amount is determined by multiplying the amount of federal exemption by 75 percent, each year. There are bases of exemption and ways to claim tax credits, as well. Tax delinquency is an offense that may lead to serious consequences. Penalties include 10% of the unpaid tax, 15% for intentionally disregarding rules applying to taxes, 50% for intentionally evading the tax, 100% for fraud, and a $50 penalty for failure to file per return.

Furthermore, there is a Warrant for Delinquent Taxes, also called the state tax lien, that dictates that your personal property can be sold to satisfy your tax debt. Realizing the seriousness of this issue leads us back to employing the services of a tax relief firm. Such firms will aid you so that you end up paying off your debt in the duration set between you and the said firm.

 

Gehrke: The tax task is looking like it will be a bigger lift than lawmakers are able to muster

According to Gov. Gary Herbert, Utah could fall off a "fiscal cliff" if it doesn't fix its sales tax problem and both he and legislative leaders are making averting that catastrophe their top priority ...

Published:  Mon, 18 Feb 2019 06:12:00 GMT



"˜Extremely shocked': Utah families hit hard, paying more under new tax law

SALT LAKE CITY - Tax season is turning into a tax nightmare for many Utah families, especially those with more than two children, as they discover a significant jump in state income taxes. "I'm paying ...

Published:  Tue, 12 Feb 2019 07:21:00 GMT



First look at Utah tax reform plan coming; expect no sales taxes on medical, real estate services and tuition

SALT LAKE CITY - Republican lawmakers in the House and Senate will get their first look during their caucus meetings on Thursday at a tax reform plan that will include new taxes on services. So far, b...

Published:  Wed, 13 Feb 2019 14:37:00 GMT



Everybody is watching: Understanding big tech's big tax breaks

This is mostly true - but sometimes, large corporations also influence the political discourse, the way Facebook did when it was caught secretly helping push through a data center tax break law in Uta...

Published:  Mon, 18 Feb 2019 10:23:00 GMT



Utah's Governor Seeks Sales Tax Reform

Utah Governor Gary Herbert can claim many accolades. He boasts a 70 percent approval rating, higher than any major officeholder in the state. He is only the third Utah governor to serve more than eigh...

Published:  Wed, 13 Feb 2019 15:26:00 GMT



A Man in Florida Mistakenly Received a $980,000 Tax Refund, and Officials Say He Tried to Keep It

The average tax refund is usually a couple of thousand dollars ... showing $1,399 in income from Sizzling Platter, a restaurant in Murray, Utah, and no withholding, the complaint said. Robert Marvin, ...

Published:  Sat, 16 Feb 2019 11:13:00 GMT



Data link taxes, migration

Those who want to increase state taxes often suggest tax burdens have ... state population estimates for 2018 showed Idaho, Nevada, Utah and Arizona "led the way" in overall population growth ...

Published:  Sun, 17 Feb 2019 23:35:00 GMT



Google reaped millions in tax breaks as it secretly expanded its real estate footprint across the U.S.

Facebook is slated to receive $150 million in property tax incentives for building a 970,000-square-foot data center in Utah, the company and local officials announced last year. Google CEO Sundar Pic...

Published:  Fri, 15 Feb 2019 22:13:00 GMT



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