The Arizona Department of Revenue is offering tax relief for those affected by Hurricane Sandy. The state has extended deadlines for some taxpayers and will suspend any penalties or interest, as long as the tax debt is paid in full. Arizona is currently offering a 60-day extension for payments due October 26 – October 31, and another 30 days for payments due November 15 – November 20. Payments made during the extended time period will be exempt from penalties and interest, and additional extensions may be granted in the future.
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The resulting tax cuts would help Arizona families immediately. While gas prices are over $5 a gallon in Phoenix, back-to-school supplies are more expensive than ever and grocery prices continue to rise, the EITC would make all the difference in their budgets. Arizona tax relief would help all Arizonans save money in an economic climate that is already extremely tough.
The IRS has a special program for taxpayers in Arizona called the Offer in Compromise. To qualify for the program, a person must demonstrate a financial hardship. However, this method of tax relief is not guaranteed to work for everyone. Therefore, you may wish to consider hiring a professional Arizona tax settlement company to help you with your case.
Another tax relief program in Arizona is the Arizona Charitable Tax Credit. This credit replaces your state income tax liability for donations to qualified charities or organizations. In addition to tax relief, it lets you make a difference in the lives of children and families in need.-