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      November 14, 2018

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Tax Relief in Virginia

Virginia MapThe state of Virginia requires its residents to pay income tax. This type of tax is imposed on an individualís wages or salary and the amount is based on what is being earned. The amount received in the form of income and property taxes is used by the state to ensure smooth running of governmental units like school systems etc. However, there is no property tax in Virginia on the state level. Thus, the local government is responsible for the collection of property taxes.

The latest figures for the median household income available are from 2013, which identify that in Virginia, median household income is $10,416 higher than the median household income for US. When compared with the values of the state itself in 2005 ($64,721), the figure ($62,666) is considerably lower. The figures for median family income for the state of Virginia are $75,524, which is higher than that for the value of median family income in the US ($64,030). However, ten years ago, the average used to be $77,768. With household and family income decreasing every year and the current rate of unemployment, tax debt has turned into a reality for many residents.

Helping individuals battle against the consequences of tax delinquency are firms that provide tax relief. Since those consequences include monetary penalties as well as liens and warrants declaring your property to be sold to pay off debt to the IRS, opting to work with a good tax relief firm is a viable solution. Tax relief is achieved by using strategies like negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review. Several strategies exist and are used every day to help individuals fix their tax debts with State and Federal entities.

 

Amazon got massively different tax breaks from New York and Virginia

The chips are down, and now it's time for money to exchange hands. Amazon has chosen Long Island City in Queens, New York and National Landing in Arlington, Virginia as its two cites for HQ2. Both wil...

Published:  Tue, 13 Nov 2018 09:17:00 GMT



Amazon chases skilled work forces, not low taxes and light regulations

Opposing view: Amazon's HQ2 could have massively negative impact in Virginia No sooner was the announcement made ... described the $1.85 billion in tax incentives New York ponied up. Rather than compl...

Published:  Tue, 13 Nov 2018 13:55:00 GMT



Climate Groups Cringe at Virginia Tax Cut for Oft-Flooded Homes

A measure approved by Virginia voters this week to cut taxes on homes in flood-prone areas of the flood-prone commonwealth has climate experts warning that it might encourage people to remain in vulne...

Published:  Fri, 09 Nov 2018 01:00:00 GMT



Why did New York offer Amazon 3 times the tax breaks Virginia did

Amazon wants to evenly divide its second headquarters between New York City and the Washington D.C. area. But the two cities aren't exactly splitting the very large bill. Meanwhile, New York City ...

Published:  Tue, 13 Nov 2018 13:29:00 GMT



Amazon Snags $2 Billion in Bribes and Tax Credits From New York and Virginia

In exchange for more than $2 billion in economic incentives, the online shopping giant will locate a pair of new corporate headquarters just across the Potomac River from Washington, D.C., and ...

Published:  Tue, 13 Nov 2018 10:50:00 GMT



Stephen D. Haner column: Yes, Virginia, there are four tax hikes in your future

It is starting to sink in with Virginia taxpayers that the complicated amendments to federal tax rules that lowered their payments to Uncle Sam may have the opposite result for their state taxes: a su...

Published:  Sat, 03 Nov 2018 05:45:00 GMT



Trump defiant as Democrats prep push for his tax returns

"I can't think of any grounds for executive privilege," said Yin, who is now a professor of law and taxation at the University of Virginia. "All of this seems to me to have nothing to do with his offi...

Published:  Wed, 07 Nov 2018 15:45:00 GMT



How will Trump take Amazon move 'He will think Bezos made this decision to stick it to him.'

No. He's here to do business," said Bobbie Kilberg, the president of the Northern Virginia Technology Council ... He accuses Amazon of using The Post as a lobbyist to avoid taxes and says the company ...

Published:  Tue, 13 Nov 2018 06:56:00 GMT



EDITORIAL: Conform & reform Virginia's tax code

LAST December, Congress passed, and President Trump signed into law, the Tax Cuts and Jobs Act of 2017, the most comprehensive federal tax overhaul since 1986 when Ronald Reagan was president. The fed...

Published:  Wed, 31 Oct 2018 18:00:00 GMT



Virginia voters back two proposed constitutional amendments on targeted tax breaks

Virginia voters on Tuesday overwhelmingly supported two constitutional amendments on tax questions with implications for homeowners who live in flood-prone areas and for military spouses. In order to ...

Published:  Tue, 06 Nov 2018 16:00:00 GMT



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