If you live in Arizona and owe a large amount of money on your state taxes, you may qualify for Arizona tax relief. While the Arizona Department of Revenue has not made any changes to its state-tax relief program, the IRS has extended the deadlines for filing your personal tax returns. The IRS has extended the deadline for S corporation and partnership tax returns until April 15, 2020. While this is good news for individuals who owe thousands of dollars on their state taxes, it is not the same as the tax relief available to businesses and individuals in Arizona.
Learn More About Reducing Your Tax
The IRS offers tax relief for many Arizona residents through their Offer in Compromise program. This program allows a person to pay less than the full amount of their taxes in exchange for an offer to settle the account. But, as with any other method, this program is not guaranteed to work for every taxpayer. In order to obtain the best possible tax relief, it is crucial to contact a professional Arizona tax-settlement company to help you file your returns.
Get a Free Consultation on Tax Relief
In Arizona, the government offers special tax relief to small businesses. Businesses in Arizona can benefit from this offer by reallocating a portion of their tax dollars to local organizations. In many cases, this can be a huge relief, as taxpayers are able to redirect their tax dollars to help support local needs instead of the federal government. The government hopes that by giving this tax relief to small businesses, they will see their bottom line improve and be able to stay in business.