Owing money to New York State or the Internal Revenue Service can be stressful and intimidating, especially when you don’t have the money to pay them. However, both agencies have options to pay off the debt gradually, or if eligible, at a substantially reduced amount. Many people are not aware of these options, and they try to evade or ignore these powerful agencies, but sooner or later, they will catch up with you and you might find yourself in a deeper debt due to interest and penalties.
IRS and New York State collection Agencies are endowed with a lot of power that allows them to seize your assets and personal property such as your bank account, automobiles, or business. It would be in your best interest to have an attorney, or tax professional on your side when you engage with them.
An Attorney or Tax professional can help you find a resolution while also helping protect you from Collection efforts against:
- Incorrect amounts owed;
- Tax Debt that is beyond the statute of limitations;
- Levies against assets that are exempt from collection;
- Garnishments against wages that are exempt;
- Levies against assets that would create an unreasonable hardship to the taxpayer or their families;
- Levies against income-producing assets that would diminish the taxpayer’s ability to pay the tax debt,.
If you need assistance with your tax debt, take this first step towards resolving your tax problem, regaining your peace of mind, and taking control of your financial future by calling us today!
