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What Happens When You Don’t Pay Federal & New York State Tax?
If you don’t pay your taxes on time, there are serious legal consequences you may have to face. The government can slap you with additional penalties and interest on your unpaid taxes. These tax fines will keep accumulating, unless you resolve your tax debt. If you are still nonchalant about the matter, the government may impose a tax lien on your assets such as your home, car or any property of value. In addition, a tax levy may also be filed against you, allowing the government to seize and sell your property to pay off the tax debt.
How Tax Defense Partners Can Help Provide Tax Debt Relief in New York
When you choose to work with Tax Defense Partners, you can expect us to:
- Carefully analyze your New York and federal tax bill to make sure it’s accurate.
- Explore your legal options.
- Communicate directly with the New York State Department of Taxation and Finance as your representative.
- Review your financial condition and decipher how much you can pay via an installment payment plan or in a lump sum.
Popular FAQs on New York Tax Debt
Should I hire a tax attorney to resolve my tax debt problems?
Yes. The complex nature of federal and tax laws makes it difficult to deal with tax-related issues. By hiring a tax attorney, you can take advantage of our knowledge and experience when it comes to negotiating with the government and the IRS.
Can a tax lien be released?
Yes. For that to happen, you need to be compliant with tax regulations and rules. You can release a tax lien by resolving the tax debt, letting the statute of limitations expire on a tax debt, or settling through an Offer in Compromise
What is an Offer in Compromise?
OIC is a tax settlement program that allows you to settle your tax debt for a percentage of what you owe. The proposal is only accepted if the IRS believes that you are not in a position to make the full payment. Also, the IRS must ascertain that the offer is either greater than or equal to the amount the organization expects from the delinquent taxpayer.
Hire The Best Tax Debt Defense Team in New York Today!
Are you looking to hire a debt resolution expert in New York and break free from the burden of tax debt? Awesome! You have come to the right place. We will help you find the best possible tax debt relief options that fit your situation. Give us a call at 800-600-4300 and schedule a free consultation with us today