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Show 10, 2003 The Magna TimesWest Valley News, April 7 Business Mountain region economy seeing modest growth The mild U.S. recession of was primarily limited to California and the Northeast States in the Rocky Mountain region were largely untouched by that economic downturn. In contrast, the Rocky Mountain region was hit hard by the U.S. recession of 2001 and the events of Sept. 11 of that year. As a result, most Rocky Mountain states slipped into recession during portions of the past two years. The reason? Rocky Mountain states have a higher percentage of jobs in the 4 Ts of technology, telecommunications (primarily Colorado), travel, and tourism than most states across the nation. Strength in these sectors had led to solid regional economic growth during the 1990s. However, it was these same 1990-9- 1 sectors that were hit hard over the past two years. While the U.S. economy has recorded six consecutive quarters of positive (if modest) economic growth since the presumed end of the recession in late 2001, it has only been recently that most Rocky Mountain states have begun to emerge from recession. Arizona, Idaho, and Colorado now report positive job gains over the most recent period (one measure of emergence from recession), after prior job losses. Utah is expected to join this group in coming months. The Utah unemployment rate was estimated at 5.8 percent in March 2003, up from Februarys 5.3 percent rate. Marchs 5.8 percent rate compared to a jobless rate of 6.2 percent during March 2002. Utah's unemployment rate th year-over-ye- ar , of the lowest annual rates since the early 1950s. These rates compare to an average Utah unemployment rate of 3.5 percent between 1995 averaged 6.1 percent in 2002 and 4.4 percent in 2001. By comparison, the 3.2 percent average during 2000 was one Decembers 6.0 percent high for this economic cycle. The jobless rate could approach 6.2 percent in coming and 1999. The U.S. unemployment rate was 5.8 percent in March, unchanged from Februarys rate and below months. Options available for paying taxes For some people tax season is a glorious time when DVD players, new computers Service is not an organization with which you want to be in and weekend spa getaways are only a refund check Unlike credit card companies and collection agencies, the IRS has a considerable amount of power when it comes to collecting tax debts. "The IRS can garnish your wages and seize your property w ithout having to take you to court, Rhode said. "If you think you're going to have a problem paying a tax bill, you need to explore all of your payment options right away," If you cant afford to pay your total tax bill all at once, one option is to set up a pay trouble." away. For others its a time when panic and desperation take hold as a huge tax bill stares them in the face. "Taxes are a financial demon that lurks in the back of peoples minds, but when April 15 arrives many people end up stuck without a penny or a plan, said Steve Rhode, of president and cona Myvesta, nonprofit sumer education organization. "The Internal Revenue er ment plan through the IRS. "A payment plan is a good idea if you know you are going to have a steady income until the tax debt is paid off," Rhode said. "Even though there are fees ith setting up a payment plan and you will have to pay interest, its much better than having the IRS take collections actions involved w against you." If there is a reasonable doubt that you owe the tax, or if you can prove that the IRS will not be able to collect the tax because of your financial situation, an offer in compromise is an option. "An offer in compromise j can lower your tax bill by half or more, yet still has to : reasonably reflect your abili-- : ty to pay back the debt. Rhode said. "If your offer is j accepted you must meet all of your tax requirements for j the next five years and if you i dont comply w ith the terms : of your offer the IRS may reinstate the entire tax liabili-- j i ty More options for paying a: tax bill are outlined in the j j "How Myvesta publication to Deal with the IRS if You Cant Pay Your Taxes. It j I can be downloaded free online from MAesta.org ; j Business Directory place your advertising, call To 250-565- 6 -- Tree Service T.M.M. v gardenstream anoscaping for:allsofmyour landscaping: needs Lawn Maintenance 801-301-51- & c::r.us thizs WTHRJU.Y5WWUUOSCAPn RICHARD BREMS OR 435-241-00- ft 0RM1E8ERESUMAI 982-934- cw1k Mt IV Sfcwart fe$ti8 1200- - m -- 22fldSi?asi& Ss&Skk, SK & If (National placement also available through Utah Press.) 888-972-23- 00 Inc. Gl :c Banner Ad Network Let's Deal Are you advertising in markets that are doing you no good? 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