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    Category: Payment Plans

    What to Do After Receiving an IRS CP523 Notice

    7 November, 2023 | Payment Plans Tax Debt

    Taxpayers’ Guide to the IRS CP523 Notice How to Deal With a Terminated IRS Installment Agreement Dealing with the Internal Revenue Service is enough to cause even the calmest person to worry, and panic is nearly guaranteed when you receive certified mail from the IRS. This is especially true if you get a CP523 notice. This letter says that the IRS is terminating your installment agreement, and you must pay in full now.   Although this letter may feel threatening, you do... CONTINUE READING

    Guide to Completing Form 433-D to Set Up Monthly Payments

    10 October, 2023 | Payment Plans

    Tips and Instructions for Form 433-D If you want to make monthly payments on your tax debt, the IRS will typically send you Form 433-D. You use this form to finalize your installment agreement and authorize payments from your checking account, and in some cases, you can even use this form to apply for a payment plan. To get help now, contact us at the Timothy S. Hart Law Group, PC, or keep reading for more details. IRS F... CONTINUE READING

    Pay Your NYS Taxes Right: Online, Mail & More Options

    10 October, 2023 | Payment Plans

    Ways to Pay New York State Taxes and Consequences if You Don’t You may have more options for paying your New York State tax bill than you realize. Whichever option you choose, don’t wait too long. Here’s what you should know. Paying your New York State taxes on time is essential, but knowing how to make a payment or figuring out what to do if you can’t pay in full isn’t always easy. Thankfully, the New York State Department of Tax and Finance (DTF) offers several options... CONTINUE READING

    New York Tax Payment Plan

    22 June, 2023 | Payment Plans

    New York State Tax Payment Plan You May Qualify to Pay Your Tax Debt in Monthly Installments If you can't afford to pay your New York state income or business taxes, you may be able to set up a payment plan. To help you figure out if you qualify, this post outlines the rules and application process. Then it explains what to expect when making payments on a state tax debt. To get... CONTINUE READING

    Form 433-B Collection Information Statement for Businesses

    7 February, 2023 | Payment Plans

    You may need to complete Form 433-B if you're applying for a payment plan or hardship status for a business. To apply for an offer in compromise for a business, you need to complete Form 433-B (OIC). Both versions of this six-page form request detailed information about your business finances, but the OIC version takes you through calculating a settlement offer on your taxes. This... CONTINUE READING

    Taxpayer’s Guide to IRS Partial Payment Installment Agreement

    10 December, 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

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    Understanding ERC Audit Penalties & Fraud Risks

    Penalties & Consequences for Erroneous ERC Claims During COVID, the ERC credit, as well as many other government incentives, helped many businesses keep their doors open, but these programs were also rife with abuse...