A Guide to New York State Tax Resolution by Tax Specialists

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www.longislandtaxresolution.com

Call us at: 631-244-1650

Call us at: 631-244-1650

1) Solutions for Tax Problems, Codes and Laws

• Whether you are an individual taxpayer or small business owner, abiding by the New York state tax codes, laws, and regulations can be difficult.

• Thankfully, there are available solutions for compromising situations.

Call us at: 631-244-1650

2) Facing the Various Tax Problems

• There are hundreds of problems that frequently necessitate tax resolution efforts.

• For individual taxpayers, these often include the following:

o Unfiled income tax returns

o Unpaid back taxes

o Tax audits

o Tax warrant

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3) Unfiled Income Tax Returns

• It is risky for individual taxpayers to withhold their own income or "fail to file returns.“

• If NYS discovers a failure to pay, the consequences can be devastating.

• In this situation, you need to file the returns immediately to avoid trouble.

• If NYS has already discovered you, it is wise to seek the assistance of a tax resolution specialist.

Call us at: 631-244-1650

4) Unpaid Back Taxes

• It can take months for NYS to follow up with you over unpaid back taxes.

• Resolving unpaid taxes requires an accurate determination.

• You will need to know exactly what you owe to NYS, as well as when it was due.

• A tax specialist can help you with this.

Call us at: 631-244-1650

5) Tax Audits

• If you have listed income and your deductions aren’t accurate, NYS may file a tax audit to examine the details of your return.

• A tax resolution specialist can walk you through the process.

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6) Tax Warrant

• In severe cases, you will experience a tax warrant involving wage garnishment and asset seizure.

• This means your tax issues are advanced and should be handled immediately.

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7) For businesses owners, some of the most common tax issues include:

o Sales taxes

o Inappropriate deductions

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8) Sales Taxes

• If your company fails to collect and file sales taxes, the responsible person will be imposed with severe sales tax penalties.

• Your organization could shutter if rules and procedures aren’t appropriately followed.

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9) Inappropriate Deductions

• Dealing with deductions can be challenging.

• It’s easy to mistakenly overlook important deductions.

• When NYS suspects issues with your tax returns, it can file a tax audit for further examination.

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10) Dealing with Tax Problems

• Opt for an honest and productive way to deal with tax problems. Do not lie, cover up, or evade the demands of NYS.

• Abide by these three rules:

o Rule # 1: Contact NYS

o Rule # 2: Understand Repayment Options

o Rule # 3: Find Help

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11) Rule # 1: Contact NYS

• It’s important to contact the appropriate parties if you receive notice in the mail or if you suspect something is wrong.

• To resolve the issue immediately, contact NYS and do not ignore them.

• The revenue officer will be much more willing to work with you if you are responsive.

Call us at: 631-244-1650

12) Rule # 2: Understand Repayment Options

• Taxpayers may qualify for a number of repayment options.

• Depending on the criteria you meet and your situation, repayment options include guaranteed, partial, streamlined, and non-streamlined installment agreements.

• This allows you to make small payments over an extended period of time.

• This can be a major relief for individuals or organizations who can’t afford to make a single lump sum payment.

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13) We Will Explain With an Example

• A taxpayer who owes $5,000 in back taxes can pay the delinquent taxes over a period of three years with a guaranteed installment agreement.

• This would put your minimum monthly payment around $140, as opposed to thousands upfront.

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14) Rule #3: Find Help

• Dealing with NYS can be complex.

• When you don’t understand New York state tax laws, codes and regulations, it’s better to hire a qualified tax professional.

• A Certified Tax Resolution Specialist can develop a strategic plan and represent your best interests.

Call us at: 631-244-1650

15) NY State Tax Resolution

• Don’t let taxes be the death of your personal finances or business.

• With the assistance of a tax resolution specialist, you can resolve current issues and prevent future ones.

• The best way to stay in line is to over-document and over-communicate.

• Creating a paper trail can help solve issues because it shows NYS that you care about the integrity of the tax system.

• For more information on New York specific tax laws, visit The New York State Department of Taxation and Finance, where you can file returns, make payments, check your refund status, and get answers to pressing questions.

Call us at: 631-244-1650

16) Contact Us

• Our highly qualified team of tax experts are well qualified and seasoned in solving IRS and New York State tax problems. Our client-centered approach is designed for you.

Visit @ http://goo.gl/f5ymyn

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