Colorado legislators defeat back-to-school tax holiday

Everyone wants to save on state and federal taxes and will take steps like hiring a tax attorney or traveling to different states to save on their back-to school supplies and clothing. Colorado residents had hoped they would be able to stay home and do their school shopping, but Colorado legislators voted against the tax holiday.

The tax holiday has been instituted in many states for low-cost computers, supplies and clothing people for the new school year. The states offer this three-day weekend in August and is allows people to save some money.

The tax holiday was passed through committee and through the House and many believed the Senate was going to pass the bills but it was defeated today. The critics say it does little to save parents money and is more like a gimmick. They also argued that the several states that have the tax holiday have not really seen any benefits to the economy in those states.

Tax holidays give some a reprieve from sales taxes and occasionally for repatriating overseas income for businesses.

Anyone who has questions about the current tax code or holidays can speak with a tax lawyer to inform them of the many tax breaks they can take.

Aside from helping a person save on their tax bills, a tax attorney can help a person with IRS problems, impending audits and help them get tax debt relief. They can stop aggressive collections, wage garnishments and property liens.