If you live in Arizona, you may be wondering what your tax relief options are. The good news is that there are several tax relief options available to you. These programs are similar to those offered by the IRS. Generally, they provide a reduction in the amount of tax owed, or suspension of penalties and interest. These tax relief programs are offered to both individuals and businesses.
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If you owe money to the IRS, you may qualify for an offer in compromise (OIC). You must prove that you are financially unable to pay the amount owed. Although this option may offer some relief, it is difficult to be approved. You may want to consider hiring a professional Arizona tax relief company to help you apply.
You can also extend your tax return. You must pay at least 90% of your Arizona taxes by July 15, 2020. The original due date is April 15, 2020. Similarly, you can apply for a federal tax extension and pay your taxes later. This tax extension is available for a year and a half.
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Another option to reduce your tax liability is to donate to charity or nonprofit organizations. Arizona taxpayers can get a tax credit for their donations to qualified organizations and charities. These tax credits can replace up to a certain amount of state income tax. By donating, you can make a difference in the lives of children and families in need.