Tax relief in Arizona is a program designed to reduce the amount of taxes owed. This program can benefit businesses as well as individuals. There are several options for tax relief, but you need to know the specifics before you apply. The following are some of the main benefits of tax relief in Arizona.get IRS tax relief
The Arizona Department of Revenue offers tax relief for people who have been affected by Hurricane Sandy. The relief is similar to what the IRS offers. It suspends penalties and interest and allows taxpayers more time to file their returns. For example, those who owe between $2,000 and $5,000 in taxes on their incomes can request an additional 60-day extension. The same extender period also applies to payments due between October 26 and October 31. If you pay during this period, all penalties and interest will be waived. However, you may have to file additional tax returns after you receive the relief.
While Arizona lawmakers must meet federal tax reform requirements, the state has a golden opportunity. By reducing its tax burden, it can remain competitive and attract new businesses. Moreover, it can keep pace with other competitive states that have already adopted the TCJA.