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Tax Relief in Wisconsin

Wisconsin MapWhen coupled with the fact that the median household income in Wisconsin has decreased from $56,824 (2007) to $51,547 which is a decrease of $5,357 (9.43 percent), tax penalties and tax debt are becoming more common among many residents of Wisconsin. For those that have outstanding local, state or federal taxes one option to help resolve the problem is to put an expert in their corner.

A number of tax debt relief specialists work with Wisconsin residents and are equipped to provide a number of options to assist. A firm that specializes in providing tax relief to its clients will use a variety of strategies to pull them out of tax debt.

These strategies may include steps such as:

  • Availing the offer of a compromise with IRS
  • Claim candidacy for penalty abatement due to a valid reason
  • Removal of wage garnishment to aid in payment of the debt
  • Declare the client “currently not collectible”
  • Filing the delinquent tax returns at the earliest time possible
  • Work on preventing the IRS from issuing a bank levy
  • Filing an appeal on behalf of the client
  • Opt for innocent spouse relief
  • Using the statute of limitations to the client’s advantage
  • Drafting an agreement optimized for that particular client and their needs

A good tax relief firm will only hire professional tax consultants. These experts will help you in avoiding the penalties issued by the IRS. The penalties may range from:

  • A fee for filing late which amounts to $50 to
  • An interest for delinquency which means 1.5 percent (18 percent per year) will be added to the amount already due and
  • A negligence penalty for failure to file on time which is 5 percent per month.

Asking for help sooner rather than later, on delinquent taxes, will reduce penalties and interest from accruing, and reduce stress.

 

How do Wisconsin municipalities collect taxes from Airbnb and other home rental companies

Unlike the popular home-renting service Airbnb, which returned hundreds of thousands of dollars to Madison and the state of Wisconsin in the first year of a tax collection agreement, similar companies ...

Published:  Tue, 11 Sep 2018 04:10:00 GMT



Voters Choose Education Over Tax Cuts

Cutting taxes ranks relatively low among voter concerns, the poll showed. Voters all across the state place a great deal of value on Wisconsin's schools, with nearly half (49%) naming K-12 ...

Published:  Wed, 12 Sep 2018 10:07:00 GMT



Wisconsin Child Tax Rebate returned more than $94 million to families

MADISON, Wis. (WKBT) - Almost 558,000 eligible families filed for the $100 Per-Child Tax Rebate between May 15 and July 2, 2018. "It's great to see almost $95 million returned to hardworking families ...

Published:  Thu, 06 Sep 2018 10:38:00 GMT



Tax reporting company acquires customer

income tax preparation supplies and mortgage forms. Greatland is an employee-owned company with locations in Walker and Green Bay, Wisconsin. Rachel Watson is a Grand Rapids Business Journal staff rep...

Published:  Wed, 19 Sep 2018 10:09:00 GMT



Scott Walker proposes $5,000 in tax credits for college graduates who stay in Wisconsin

Wisconsin college graduates who live and work in-state would be eligible for up to $5,000 in tax credits under a proposal Gov. Scott Walker released in more detail on Tuesday. Walker first floated the ...

Published:  Tue, 11 Sep 2018 09:41:00 GMT



Wisconsin families get $94 million from child tax rebate

MADISON, Wis. (AP) - Gov. Scott Walker's office says Wisconsin families claimed $94.2 million from a child tax rebate the Republican incumbent proposed as he faces re-election in November.

Published:  Thu, 06 Sep 2018 10:24:00 GMT



Firm won't get tax-break vote by Sept. 30

"Wisconsin has robust existing programs to promote economic development and job retention that Kimberly-Clark can attempt to utilize, just as any other company can." The $2.8 billion in potential tax ...

Published:  Mon, 17 Sep 2018 08:24:00 GMT



Report says deteriorating roads, congestion costs Wisconsin drivers $6.8 billion a year

Walker added his new plan for transportation funding in Wisconsin will address maintenance of existing ... "We'll lay out in September some things we believe we can do without a massive gas tax increa...

Published:  Tue, 18 Sep 2018 08:37:00 GMT



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