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    Category: Tax Relief

    Penalty Abatement Policies- First Time and Recurring

    1 October, 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

    How long can the IRS collect taxes you owe?

    1 October, 2022 | Tax Relief

    A question I often get from clients with a tax debt is how long can the IRS collect taxes you owe? There is a statute of limitations on collection of taxes, and it is generally 10 years. Once that time expires, you are free from the remaining unpaid tax debt and the IRS cannot collect from you unless they go to court and create a tax judgement which is rare. When I say generally they have 10 years to collect, there are a few issues on when the time clock starts, and what c... CONTINUE READING

    Tax Help and the IRS Currently Not Collectible Status

    1 January, 2018 | Tax Relief

    Tax Help and the IRS Currently Not Collectible Status When you are in a situation that makes it impossible to pay the taxes that you owe, you need tax help to show the IRS that collecting from you will create a financial hardship, the IRS will put you into a noncollectable status known by IRS terms as “currently not collectible”.  This status can be granted to individuals and corporations.  In most cases, this status will be reviewed in one to two y... CONTINUE READING

    Innocent Spouse Relief Tax Rules

    1 March, 2014 | Tax Relief

    Innocent Spouse Relief In September 2013, the tax law was revised to greater benefits for those who are seeking tax relief related to debts incurred when they signed a joint tax return was an ex-spouse. The new tax law increases the chance that the Internal Revenue Service will hold that the ex-spouse is not liable for the sins of the other. Clients who are seeking this type of relief would benefit greatly from an attorneys assistance in correctly documen... CONTINUE READING

    Innocent Spouse Relief

    12 November, 2013 | Tax Relief

    Innocent Spouse Relief There are various favorable tax related reasons to file joint tax returns, but did you know that by doing this you and your spouse are each jointly 100% liable for the entire amount of the tax? This tax law is referred to as joint and several liability. This can certainly present problems, if one of the spouses understates income or misuses deductions, for example, without the knowledge of the other spouse. It is common in many marr... CONTINUE READING

    First Time Penalty Abatement, Tax Penalty Relief!

    19 December, 2012 | Tax Relief

    First Time Penalty Abatement, Tax Penalty Relief! If you have no history of tax problems with the IRS, such as back tax returns, but you incurred a penalty for failing to file a tax return, or failing to pay taxes on time, you may be in luck and be able to obtain tax penalty relief. The Internal Revenue Service will often lessen certain penalties for ta... CONTINUE READING

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

    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 N...