If you owe taxes to the IRS, you may be able to receive tax relief through an Offer in Compromise. This process involves proving that you are unable to pay. However, this is not a guarantee that your tax debt will be reduced. Tax relief is possible through tax relief incentives and programs in Arizona. But these programs can be complicated to qualify for. If you are in need of help, consider hiring a professional Arizona tax-settlement company to help you with the process.Phoenix tax relief firm
The Department of Revenue in Arizona is also extending tax-filing deadlines for those affected by Hurricane Sandy. The extension includes suspension of penalties and interest. If you are unable to file your tax return by October 31, you can request a 60-day extension. In addition, payments due November 15 through October 31 can be extended for 30 days. You may also be eligible to get additional extensions as needed.
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Small businesses in Arizona have a lot to gain from federal tax reform. The new law protects veterans and small business owners. It also prevents a 77 percent tax increase on small businesses, which make up 99% of the businesses in Arizona. Additionally, property taxes for small businesses are cut by 10 percent. Furthermore, homeowners are entitled to a tax rebate that covers half of their primary property taxes. Finally, the new tax reform doesn’t affect K-12 education funding.