If you are looking for Arizona tax relief,your tax professional should be able to work with you to make sure that you getevery deduction you’re eligible for. An effective tax attorney can help you manage your finances so that you’re not under the stress of paying too much out-of-pocket money because of your tax obligations. When it comes to working with your tax professional,there are also other areas that he or she can focus their efforts on,such as estate planning,retirement,and other tax issues. This article will give you an idea of some of the many benefits that tax relief can provide,whether you’re working with a professional or doing everything on your own.
Some of the biggest Arizona tax relief programs available to individuals are the Earned Income Tax Credit (EITC) and the Self-Employment Tax Credit (SETC). The EITC program offers tax relief on income up to a certain amount,while the SETC guarantees tax relief on incomes less than a certain amount. By getting an Arizona tax relief attorney,you can ensure that you take advantage of these programs whenever possible. Your Arizona tax attorney can: Review your tax statements to determine whether you’re eligible for any of the tax relief programs; negotiate with the Internal Revenue Service to allow you to take tax credits that you’re eligible for under one of the programs; negotiate with the IRS to adjust the amount of tax debt that you owe;,and help you settle your tax debts with the IRS for a lower total amount. Reviewing your tax statements is a very important part of being a tax filer; if you’re unable to meet the deadlines set by the IRS,you could find yourself facing serious financial problems.
You may also benefit from the services provided by an Arizona tax relief attorney,such as: Consolidation,Offer in Compromise (OIC),Installment Agreement,and Currently Not Collectible status. A consolidation agreement is a great way for you to reduce the total amount of tax debts that you have to pay. An offer in compromise is a way for you to settle the balances of your tax debts in a short period of time. An Installment Agreement is a good option if you think that you’re going to face problems collecting your tax debts. And,most importantly,you may qualify for Currently Not Collectible status,which allows you to enjoy a tax relief status until April of next year.Learn More About Reducing Your Tax