Who says holidays can only happen in December? Now that the holiday season is in full swing, make sure to be on the lookout for some of the smaller holidays throughout the year that keep your wallet a little thicker. We’re talking about sales tax holidays.
Sales taxes are one of the ways states across the U.S. bring in revenue. While sales tax rates vary across the country, some states have given their citizens a small gift with sales tax holidays, usually a two-day period where purchases for certain goods are sales tax-free.
The eligible goods range from those for hurricane season to school supplies like clothing, shoes and computers, and the savings can run a few percentage points of the total purchase. Here are some of the sales tax holidays that popped up in 2011:
More and more states have adopted tax holidays over the years. And they’re typically set for the summer months to help parents buy back-to-school items for their kids. Check with your state’s tax agency to find out if or when your state has a sales tax holiday.
If you owe back taxes to the IRS, don’t expect them to give you any type of holiday. While there are powerful programs to resolve tax debt with the help of an experienced tax attorney, very rarely are these programs publicized.
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