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New York State Tax Debt—Collection Statute of Limitations

April 20, 2025 | tax collections Uncategorized

Statute of Limitations on NY State Tax Debt—How Long Can They Collect? After state taxes have been assessed, the Department of Taxation and Finance (DTF) can only collect taxes for a set period of time. In New York State, the statute of limitations is generally 20 years. However, there are exceptions, and the starting point for the 20 years depends on the specific details of your tax situation. This limit differs for each state, and as a New York resident... CONTINUE READING

New York State Tax Penalties for Individuals and Businesses

April 20, 2025 | Tax Compliance Tax Penalties Uncategorized

Understanding New York State Tax Penalties: A Comprehensive Guide If you fall behind on your New York State taxes, file incorrectly, or engage in fraud, the Department of Taxation and Finance (DTF) may add a wide range of penalties to your tax bill. By understanding the penalties you may be charged and learning more about the Department’s expectations for taxpayers, you can stay compliant with all state tax requirements and... CONTINUE READING

IRS Form 433-A: When to File and How to Fill It Out

April 20, 2025 | Payment Plans Uncategorized

IRS Form 433-A: Guide to Qualifying for IRS Relief If you’re requesting certain forms of tax relief from the IRS, they may want to verify your financial information. Depending on the type of relief you are asking for, they either want to see if you are able to make the monthly payments you’re requesting or if you have enough financial need for the assistance you are asking for. To determine this, the IRS will ask you to complete Form 433-A. Accuracy and... CONTINUE READING

Behind on Payroll Taxes? Watch Out for IRS Letter 5857

March 8, 2025 | payroll tax

Summary 1. IRS Letter 5857 is sent to taxpayers who have fallen behind on their employment tax deposits, notifying them of an impending phone call from a Revenue Officer to discuss the issue. 2. The IRS prefers to resolve tax issues early and may offer payment arrangements or other relief options. 3. Ignoring the letter can lead to escalating collection efforts, including in-person meetings, liens, levies, and the Trust Fund Recovery Penalty (TFRP), which can hold in... CONTINUE READING

Failed a Tax Audit? Here Are Penalties and Solutions

March 8, 2025 | Tax Audits

Summary 1. Failing an IRS audit means you cannot provide enough documentation to support the claims on your tax return. 2. There are three potential outcomes of an audit: no change, you agree with the IRS’s proposed changes, or you disagree with the changes. 3. Penalties related to failed audits include accuracy-related penalties, failure to file or pay penalties, erroneous claim for refund or credit penalties, and civil fraud penalties. 4. Other implicatio... CONTINUE READING

What is the IRS Failure to Deposit Penalty: How Can I Avoid It?

March 8, 2025 | payroll tax

Summary 1. The failure to deposit penalty is assessed when a company fails to collect and transfer payroll taxes, including federal income taxes, Social Security taxes, and Medicare taxes. 2. The penalty is based on the number of days the deposit is late and can range from 2% to 15% of the unpaid amount. 3. This penalty can add up quickly, especially if it’s part of an ongoing issue with late or missed deposits. 4. The IRS also charges interest on penalties... CONTINUE READING

IRS Revenue Officers vs. Revenue Agents—How to Respond

February 9, 2025 | Tax Debt Tax Notices

What is the Difference Between an IRS Revenue Officer and an IRS Revenue Agent? When an IRS representative contacts you directly to discuss your taxes—whether it’s a specific return, the results of an audit, or a past-due tax debt—it’s important to know the scope of their work and what they are legally allowed to do in regards to your tax debt. While some peopl... CONTINUE READING

Legal Representation for U.S. Tax Court: Tax Attorney Help

February 9, 2025 | Tax Court

An Overview of U.S. Tax Court Representation The tax collection process is confusing. One reason is the complexity of the U.S. Tax Code. Another is the due process protections required by the Constitution. These include requirements such as letters and notices, as well as the right to appeal certain tax disputes with the IRS.... CONTINUE READING

What to Do When You Receive an IRS LT11 Notice of Intent to Levy

January 15, 2025 | Tax Levy Tax Notices

Summary An LT11 Notice of Intent to Levy is sent by the IRS to taxpayers to inform them of their unpaid tax balance and the potential seizure of their assets. This notice is usually preceded by other letters and notices, and it contains detailed information about the tax owed, penalties, interest, and possible consequences. Taxpayers have 30 days to respond to an LT11 notice. They can either pay the tax... CONTINUE READING

Taxes After Death: Who Is Responsible and What to Expect?

January 15, 2025 | Tax Debt Tax Laws

Summary When someone dies, their estate is responsible for paying any outstanding tax debt. The executor of the estate must file a final tax return and pay any taxes owed before distributing assets to heirs. Heirs do not inherit tax debt, but they may be responsible for taxes on inherited income or property. Surviving spouses may be responsible for their deceased spouse's tax debt if they fil... CONTINUE READING

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New York State Tax Debt—Collection Statute of Limitations

Statute of Limitations on NY State Tax Debt—How Long Can They Collect? After state taxes have been assessed, the Department of Taxation and Finance (DTF) can only collect taxes for a set period of time. In New York State, the statute of limitations is generally 20 years. Howe...