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5 Ways Tax Relief May Be A Better Option Than Bankruptcy. By 911 Tax Relief

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    The amount of stress you face when you owe a significant amount of money to the IRS can feel insurmountable. Penalties and interest keep adding on to the debt, and it can feel like there’s often no way out.   Oftentimes, people will consider bankruptcy as their only option to get back on their feet, but they overlook an option that many times proves to be more advantageous and strategic, which is hiring a tax relief professional.   Let’s explore five compelling reasons why opting for tax relief services may be preferable to filing for bankruptcy.   1. Tailored Tax Solutions   Tax relief professionals are specialized when it comes to navigating the complexities of tax laws and IRS procedures. They provide personalized strategies tailored to your specific financial situation.   Unlike bankruptcy, which is a broad legal process that impacts all debts that are owed, tax relief professionals focus specifically on resolving tax-related issues.   They will take the
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The 8 Biggest Mistakes Taxpayers Make When Disputing IRS Tax Debt By: 911 Tax Relief

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Navigating the complexities of IRS tax debt can be a daunting task. When faced with a tax dispute, it's crucial to approach the situation with caution and awareness. Here are the eight biggest mistakes taxpayers often make when disputing IRS tax debt and how to avoid them. 1.  Ignoring IRS Notices One of the most common and critical mistakes is ignoring IRS notices. These letters provide essential information about your tax situation and outline the steps you need to take. Ignoring them can lead to increased penalties, interest, and even legal action. Always open and respond to IRS correspondence promptly. 2.  Procrastinating on Addressing the Debt Delaying action on your tax debt can exacerbate the problem. The longer you wait, the more interest and penalties accrue. It's essential to address the issue as soon as you become aware of it. Early action can prevent your debt from spiraling out of control. 3.  Failing to Understand Your Rights Taxpayers have specific rights when de
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Location: Omaha, NE, USA
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Navigating Tax Forgiveness in 2024: Finding the Right Tax Attorney - By 911 Tax Relief.

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Tax forgiveness can be a financial lifeline, offering relief to individuals and businesses grappling with overwhelming tax burdens. As we navigate through 2024, understanding the nuances of tax forgiveness and finding the right tax attorney becomes crucial. This blog post will guide you through the process, ensuring you make informed decisions that can lead to a brighter financial future. Understanding Tax Forgiveness Tax forgiveness refers to programs and policies that reduce or eliminate the tax liabilities owed by individuals or businesses. These programs are typically offered by the IRS and state tax authorities to provide relief for those who are unable to pay their taxes due to financial hardship. Common forms of tax forgiveness include: 1. Offer in Compromise (OIC):   Allows you to settle your tax debt for less than the full amount you owe. 2. Innocent Spouse Relief:   Provides relief from tax liability if your spouse (or former spouse) improperly reported items or omitted items
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Where Do the Candidates Stand on Taxes? Some of Donald Trumps Tax Proposals...

  Donald Trump (R) Donald Trump would impose a universal baseline tariff on all U.S. imports, impose a 60 percent tariff on all U.S. imports from China, make the individual and estate tax cuts of the TCJA permanent, lower the corporate income tax rate from 21 percent to 20 percent, tax large private university endowments, and consider replacing the income tax with tariffs. Business Taxes :   Lower the corporate income tax rate from 21 percent to 20 percent.  Credits, Deductions, and Exemptions :   No tax policies proposed   Estate and Wealth Taxes :   Make the expiring estate tax cuts from the 2017 Tax Cuts and Jobs Act permanent.  Excise Taxes :   Tax large private university endowments.  Individual Income Taxes :   Make the expiring individual income tax cuts from the 2017 Tax Cuts and Jobs Act permanent.  Consider replacing personal income taxes with increased tariffs.  Exempt tips from income taxes. In 2018, IRS W-2 data indicates 6.1 million taxpayers reported a total of $38.3 bil
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Location: Omaha, NE, USA
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Where Do the Candidates Stand on Taxes? Some of Joe Bidens Tax Proposals..

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  Joe Biden (D) Joe Biden, under his proposed budget for FY 2025, would increase tax rates on corporate, individual, and capital gains income; expand tax credits for workers and families; expand tax bases to include more types of income; and maintain the current Section 301 tariffs on roughly $360 billion worth of goods from China while raising tariffs on an additional $18 billion worth of steel, aluminum, and green energy and medical goods. Business Taxes :   Increase the corporate income tax rate to 28 percent.  Increase the global intangible low-taxed income (GILTI) tax rate from 10.5 percent to 21 percent and repeal the reduced tax rate on foreign-derived intangible income (FDII).  Repeal the base erosion and anti-abuse tax (BEAT) and replace it with an undertaxed profits rule (UTPR) consistent with the OECD/G20 global minimum tax model rules.  Expand the net investment income tax to nonpassive business income.  Raise taxes on the fossil fuel industry.  Capital Gains and Dividend T
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Location: Omaha, NE, USA
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The Launch of 911 Tax Relief's Latest Service: A New Team of Seasoned Expert Tax Strategy Attorneys and EA's Ready to Deliver Exceptional Tax Relief Results.

  In a world where the Great United States has an overspending government constantly creating a bigger annual deficit, constantly increasing the National Debt, no doubt continues to tax the working class relentlessly on time without fail day in day out year after year they are a well-oiled machine, our nation's strongest, richest and biggest collection company there is. Then there are formidable Tax Companies that take on the Internal Revenue Service and the State Treasury to fight for the little guy, the working class, the middle class as well as the wealthy, to resolve and reduce and change lives for the better where it counts, financially. And sometimes small business practices tip over as many small firms do and close shop and are left to collect dust as just a name, a ghosted website, a closed sign for all to see. 911 Tax Relief is one of those companies that closed down around 2018. First opened its doors in 2012 and negotiated proudly for thousands of resolved cases for clie
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Location: Omaha, NE, USA
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