our legal blog

What Happens If You Owe the IRS More Than $10,000?

January 7, 2023 | Tax Debt

A lot of people call our office and say, "I owe 10k in taxes what should I do?" First, it's important to note that you are definitely not alone. A lot of people owe $10,000 or more in back taxes, and the IRS has programs available to help you resolve your tax debt. However, it's also important to note that the IRS takes this level of debt very seriously. You won't go to jail, but you will face other collection actions.... CONTINUE READING

Taxpayer’s Guide to IRS Partial Payment Installment Agreement

December 10, 2022 | Payment Plans

Settle Tax Debt With an IRS Partial Payment Installment Agreement If a taxpayer cannot afford to pay their full tax bill, the IRS will sometimes agree to settle some of the taxes owed. This can happen in a few different ways, including offers in compromise, currently not collectible status, and partial payment installment agreements. This guide looks at the IRS Partial Payment Installment Agreement. This is when... CONTINUE READING

NY State Tax Warrant: What to Expect and How to Resolve

December 4, 2022 | Tax Debt Tax Help

What Is a Tax Warrant in NY? How to Resolve New York Tax Liens The New York Department of Taxation and Finance (NYS DTF) can file a tax warrant against you if you have delinquent income tax, sales tax, or other New York State taxes. This is the first collection action taken by the state, and it creates the legal pathway for the NYS DTF to seize your wages, bank accounts, and property. If New... CONTINUE READING

What Is IRS Form 433-F Used for? Tips and Instructions

December 1, 2022 | Tax Debt Tax Help

IRS Form 433-F Instructions and When to File The Internal Revenue Service uses IRS Form 433-F to gather detailed financial information about taxpayers who apply for certain tax relief programs. This form requires a financial information statement, and it helps the IRS decide if you qualify for non-traditional types of payment plans such as partial payment installment agreements and payment p... CONTINUE READING

How Your Unfiled Taxes Won’t Let You Sleep Soundly?

November 23, 2022 | Late Filed Returns Tax Debt

No one likes to carry any kind of debt on them, especially when it is the debt of unfiled taxes for which you might have to pay huge penalties and even go to jail (in very limited cases). So, it is never too late to correct your mistakes and speedily file the tax returns and get the situation under control. Often, you might need the help of a tax lawyer to reduce penalties and make the process go smoothly and reach a solution you can afford to pay. He... CONTINUE READING

IRS Tax Audit Procedure- Selection, Notification, Examination, And Appeals

November 18, 2022 | Tax Audits

An Internal Revenue Service (IRS) tax audit is a review or examination of a taxpayer’s financial information and accounts to check if the reported information is correct as per the tax laws and regulations. It is processed by the IRS officers appointed by the government. In the IRS tax audit help, the IRS officers check and analyze every single detail of the financial information of taxpayers to find out if there is any incorrect informatio... CONTINUE READING

IRS Financial Criteria for IRS Payment Plans

November 10, 2022 | Tax Help

Once you owe taxes to the IRS, they have very specific IRS financial criteria of what expenses they will allow over the long term when they determine how much they will ask you to pay back per month to repay the debt through a IRS payment Plan. To understand the process the IRS uses, it is important to realize they are trying to collect as mush as possible from you, and it does not always matter how much you can afford to pay. From the taxpayers perspective, the goal is to reach a... CONTINUE READING

Can’t afford to pay my taxes in full? Tax Resolution Services

November 5, 2022 | Tax Help

If you know you won’t be able to afford to pay the income taxes you owe in full for this year, you might be starting to panic as tax season approaches and realize that you need tax resolution services. As we all know, failing to pay taxes can result in significant fines as well as potential criminal charges, so it’s smart to get a plan in place. The good news is that there are options available for people in your situation to allow for payments over time and reducing the... CONTINUE READING

New York State offer in compromise program

October 30, 2022 | Offer in Compromise

The New York State offer in compromise program allows taxpayers to lower the amount of tax debt they owe the State when they can't afford to pay it all when the taxes are owed. It goes beyond just needing a few months or years to pay, they need long term relief. The program was developed to help insolvent New York taxpayers in need of tax debt relief because paying the full tax debt would create an undue economic hardship. With th... CONTINUE READING

Penalty Abatement Policies- First Time and Recurring

October 15, 2022 | Tax Penalties Tax Relief

NYS and IRS Penalty Reduction Penalty relief can be successfully sought by negotiating penalty reduction with the IRS, and NYS Department of Taxation and Finance. In order to achieve penalty relief from either agency it may require being able to prove reasonable cause. Penalty reduction is important since the amount of overall tax debt attributable to penalties can be close to 50% of the total tax bill owed before penalties are added in. If this is your first time with a tax pen... CONTINUE READING