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If you are an individual or business located in one of the five boroughs of New York City and are experiencing IRS tax problems don’t wait any longer to find back taxes help.

Whether you are an individual taxpayer with tax debt for one or more years or you are a business owner with unpaid payroll taxes there is a solution to your tax problems. Depending on your particular facts and circumstances the following tax resolution services may be the answer to your IRS tax problems.

Submit Unfiled Tax Returns-If you have not filed back tax returns and the IRS has prepared them for you this will most likely result in the IRS sending you a bill for unpaid back taxes. This occurs because the IRS does not consider all your exemptions and deductions and will not necessarily determine your correct filing status when preparing your return. In most cases after you file your back tax returns you will owe much less than the amount calculated by the IRS or you may owe nothing at all. A second reason to prepare unfiled tax returns is that you will not qualify for an installment agreement or offer in compromise until you are current with your tax filings.

Installment Agreement-If you have the ability to pay your IRS tax debt within the remaining statute of limitations for collections you may request an installment agreement for back taxes help. If you are an individual taxpayer and the amount of your unpaid tax debt is $50,000 or less it may be possible for you to make payments over six years without providing financial information to the IRS. This type of agreement is known as a streamlined installment agreement and may be used even though you have assets which you can use to pay the tax debt or you have the ability to pay off your back taxes sooner than six years. Taxpayers owing more than $50,000 need to submit financial information and are subject to other requirements when requesting an installment agreement.

Offer in Compromise– If you submit an Offer in Compromise and it is accepted by the IRS you settle your back taxes for an amount less than you owe. When you submit an Offer in Compromise you provide the IRS with information relating to your financial condition including your assets, liabilities, income and living expenses. The IRS will not necessarily allow the living expenses shown in your offer but may limit them to national and local standards which they have established. The amount of your offer should consider the equity in your assets and the amount of your income remaining after allowable living expenses. For those taxpayers qualifying for an Offer in Compromise it is an excellent solution to back tax problems.

The above solutions are just several methods that provide back taxes help for taxpayers located in Manhattan, Brooklyn, Queens, The Bronx, Staten Island and elsewhere throughout the nation. In future blogs we will discuss other resolutions for those in need of tax debt relief.