Are you having tax problems? Do you need help? You are not alone. In fact, it’s something that many people struggle with every year. You may have been looking for tax help or tax debt relief to deal with your problems, but you didn’t know where to look or who to ask. That is where a NYC & Albany NY Tax Attorney can help with your tax problems.
Fortunately, there are a few solutions available to you if you need assistance. If you need help resolving your tax problems or paying off a tax debt, the solutions on this blog could be the answer to your problems.
Getting tax relief is possible if you work with someone who understands what needs to be done and has the right qualifications for this type of assistance. A qualified NYC & Albany tax attorney will be able to help. The process can take some time, but it will be well worth it in the end and you could save a lot of money. It is almost always best to work with a qualified New York licensed tax lawyer if you live in New York State.
Overall, taxpayers who are struggling with financial difficulties may be able to work out an installment agreement or offer in compromise where they can pay less than the full amount due. An innocent spouse relief option is available if there were erroneous items on your joint tax returns. This would include things like unreported income, tax deductions, or credits claimed by one partner without proof of their validity or accuracy. If he case is successful, you won’t have to pay your share of the tax debt and the offending spouse or ex-spouse has to pay the full amount owed.
Help with Tax Problems
In one example where a NYC tax attorney can help, an IRS installment agreement requires that you pay off your tax debt in monthly or set payments. Your tax attorney can make these arrangements with the IRS. A part pay installment agreement requires that you pay off your tax debt in multiple payments over a period of time, but don’t pay the full balance. The installment agreement can be setup as a direct debit, or you can make an agreement with the IRS to make payments to your online account manually.
When it comes to tax debt relief, there are things to consider when working through this process. One is that you will need a qualified New York tax lawyer willing and able to handle such arrangements with the IRS or NYS for you. If they don’t have experience in handling such matters, it will be less likely to work out well.
It’s possible for you to work out an offer in compromise where you can reach an agreement with the IRS where part of the tax debt won’t have to be paid. In most cases, an offer in compromise is for when your income and assets are less than what they need to be in order for you to pay off all of the taxes that you owe in full. This tax debt relief option has restrictions and qualifications that must be met to complete the process, but it can potentially give people who may not have been able to pay their tax debts another option besides giving over all of their assets and filing bankruptcy.
As explained above, there are many ways tax resolution help can benefit you if you are having tax problems. To get the best result possible, be prepared when you meet with your NYC & Albany NY tax lawyer.