For residents of Arizona, there are many options for tax relief. There is a special program that enables you to reduce the amount of tax you owe. This relief is available for individuals as well as businesses. The deadline for these programs has recently been extended. There are also additional options to help individuals who are struggling with large tax bills.
One of these options is an offer in compromise, which allows you to settle your debts with the IRS. To qualify for this program, you must show the IRS that you are unable to pay the full amount. Other tax relief programs can help you reduce your debt, but they can be difficult to get approved. It is important to understand the details of tax relief programs and choose the right one based on your individual situation and budget.
Tax reform also has implications for small businesses in Arizona. If state lawmakers don’t comply with the federal changes, these businesses could find their income tax burdens going up. Not only will this hurt the economy, but it will also make the state’s government larger. The National Federation of Independent Business’s Chad Heinrich said that 99.4 percent of the state’s businesses are small, and they employ around one million people.
Another option for reducing tax liabilities is to donate to charities. Arizona taxpayers can get a tax credit if they donate to qualified charities or organizations. This can reduce their liability by as much as $900. Donating this way can make a difference in the lives of children and families in need.-