(Newswire.net— September 12, 2018) — If you’re going through a rough financial patch or just want to take advantage of every resource available to you, there are many government programs that could help. While some government programs are well-known to most Americans, there are plenty of programs, benefits, and services you might not have heard about. These are designed to help small business owners, those who can’t pay their taxes on time, and many others. Check out these four programs to see if you could benefit from one.
Tax Debt Forgiveness Programs
Before you take out a loan to pay a tax debt, see if you’re eligible for one of the tax debt forgiveness programs offered by the IRS. If you owe $50,000 or less in taxes, including penalties and interest, you are eligible to apply online for an installment agreement to pay back what you owe over time. Offers in Compromise (OICs) provide an alternative for taxpayers who are unable to pay their tax debt without incurring significant financial hardship. An OIC will allow you to negotiate with the IRS to pay back less than the total amount you owe.
If you’re still struggling with tax issues, you might need to seek professional help.
Programs for Business Owners
The U.S. Small Business Administration (SBA) funds several resources for entrepreneurs seeking to grow their businesses. SCORE and America’s SBDC both provide consulting services to business owners for free or a small fee. The SBA Guaranteed Loan Program guarantees or insures small-business loans, providing commercial lenders with up to a 90% guarantee for small business loans. The SBA’s free online tool, Lender Match, connects small business owners with participating lenders.
Health Programs
Many people are familiar with Medicaid, a joint federal-state government program that provides health coverage to Americans with low incomes. However, there are a number of lesser-known government programs that provide health care and other related resources for different populations.
Military veterans and their spouses and dependents are typically eligible for health care as well as disability compensation, pensions, and other services through the Department of Veterans Affairs (VA). Find an accredited representative through the VA’s eBenefits system to discover which programs you or your family member might be eligible for. The Administration on Aging (AoA) administers a number of services and programs for the elderly, such as legal assistance and health insurance counseling. Find your local Area Agency on Aging through the AgingCare.com directory.
Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) helps people with low incomes, seniors, and people with disabilities find and access affordable housing. Programs include public housing, which is government-owned affordable housing, and the Housing Choice Voucher Program, which helps pay for privately owned housing. Contact your local HUD-approved counselor to learn more about affordable housing programs and how to access them.
There are far too many helpful government programs that we can cover here. Benefits.gov is a one-stop site that provides information about which programs and services you might be eligible for, with details about eligibility and how to apply.