Whether you are an individual, a business, or a nonprofit organization, you may be eligible for Arizona tax relief. Arizona has several tax relief programs available to help you lower your tax bill and avoid penalties.IRS tax relief services
The Qualified Small Business Capital Investment (QSBCI) program provides tax credits of up to 30% of your investment for the first three years. You may qualify to defer your property taxes until you sell the property. You may also qualify for an Arizona tax credit for your contributions to qualified nonprofits and military families.
The Arizona Charitable Tax Credit is a dollar-for-dollar tax credit that allows you to make a donation to a qualifying charity and receive a tax credit. Arizona taxpayers can receive a tax credit for their donations to schools, nonprofits, military families, and other qualified organizations. The program is updated annually.
Arizona tax relief is offered to individuals and businesses through the Arizona Department of Revenue. Similar to the IRS, the Department of Revenue provides relief for taxpayers who cannot pay their taxes in full. This relief includes the suspension of penalties and interest.
If you are struggling with high gas prices, the EITC can help you save up to 50% of your tax burden. EITC can help Arizona families in many ways, including by replacing state income taxes for up to five years.
There are other programs available through the Arizona Department of Revenue. For example, the Qualified Small Business Capital Investment allows businesses to lower their tax bill by up to $3,000. The Arizona Commerce Authority has a Qualified Small Business Capital Investment program that provides tax credits of up to 30% of the investment amount.