Taxation policies and relief programs in the US and Spain

Taxation remains a significant point of debate and financial planning in both the United States and Spain. In the U.S., the Internal Revenue Service (IRS) offers various programs to assist taxpayers facing unmanageable debt. These include installment plans to distribute debt over time and the ‘Offer in Compromise’ (OIC), which may allow certain taxpayers to settle their debt for less than the full amount owed. Eligibility for such relief is determined by the IRS based on individual factors such as income, assets, necessary living expenses, and compliance history.

In Spain, the Real Estate Tax (Impuesto de Bienes Inmuebles, or IBI) serves as a critical source of municipal revenue. According to a 2024 report from the Registro de Economistas Asesores Fiscales (REAF), the IBI accounted for 66% of local tax revenue in 2023. While the tax is typically paid by property owners, legal obligations may fall on usufructuaries or concessionaires depending on the specific legal relationship to the property.