IRS Tax Relief Programs

IRS Tax Relief

If you are looking for IRS tax relief information, maybe this will help you. The IRS has several tax relief programs for people who owe back taxes.

There is an Installment Agreement available to people who don’t have the money to pay their tax debt all at once. The program lets people make monthly payments until the whole debt is paid off. Another one that they have is an Offer in Compromise. This lets taxpayers settle their tax debt for less than the amount that they need to pay. The OIC helps taxpayers in limited circumstances.

In some circumstances, the IRS may do penalty abatement to those who did not pay their taxes because of a special hardship. If the person meets the criteria, the IRS may forgive the penalties.  The interest abatement is even more limited and is hardly ever provided.

You can apply for an OIC, Installment Agreement, or interest or penalty abatement without getting the help of a third party. If you would like someone to represent you, only a select few can help.

So if you are in need of tax relief, you should look into what programs you qualify and check with the IRS to see if they can help resolve your problems.

Arizona Experiences Increase In Small Business Hiring

TurboTax 2012

The most recent Intuit Payroll Small Business Index for October revealed that, despite a downward trend nationwide, Arizona small businesses increased hiring for the second consecutive month.

The nationwide figure decreased by 0.05 percent, while Arizona saw a 0.13 percent increase. Overall, small businesses in the United States created 10,000 fewer jobs.

The decline in nationwide figures began in May. Small businesses added 150,000 from the beginning of March 2010 until the end of May 2012

The total recovery amounts to 85,000 jobs after a decrease of 65,000 jobs since May.

Roads and freeways in metropolitan Phoenix
Roads and freeways in metropolitan Phoenix (Photo credit: Wikipedia)

According to Inuit, the software company that makes TurboTax 2012, any enterprise with fewer than 20
employees qualifies as a small business.

The data analyzed came from approximately 170,000 customers using Intuit’s Online Payroll. In addition to making Turbotax, Intuit created Quicken software for bookkeeping.

In September, revenue recorded by small businesses decreased 0.3 percent. Of all the industries the Index monitors, none recorded an increase in revenue this month.

The biggest decline  was in the construction industry, which fell 0.8 percent, with accommodation and food services, professional services and retail all showing a 0.5 percent decrease.

Revenues across the nation have fallen 2.5 percent since this past February, which would be a 4.3 percent decrease for the year if the trend continues.

In October, employees saw their salaries decrease an average of $2,791, a decline from $2,794, or 0.1 percent, for September. The period covering August to September saw an increase of $17 in employee salaries.

Hourly employees worked an average of 24.7 hours each week with a total of 107.1 hours for October, down 42 minutes, or 0.7 percent from the 107.8 hours reported in September.