IRS Payment Problems: Issues With Refunds, Lost Payments, and Payment Plans
Your IRS payments should go smoothly. But that’s not always the case. Taxpayers routinely find themselves facing issues with payments, endless delays with their refunds, and payment plans defaulting. These small “hiccups” trigger further problems, including mounting interest, harsh penalties, and, in the most serious cases, collections. The IRS processes more than 200 million transactions […]
IRS Letter 11 Survival Guide: Your Step-by-Step Action Plan
What Is IRS Letter 11? IRS Letter 11 (also known as LT11 or “Final Notice of Intent to Levy and Notice of Your Right to a Hearing”) is the IRS’s last warning before they begin seizing your property and assets to collect unpaid taxes. This is not a bill or a request for payment—it is […]
Handling Tax & Creditor Debts After a NY Business Owner’s Death
Navigating the financial and legal aftermath of a business owner’s death is challenging in the best of times. Besides the grief, you’re often left with a messy pile of unfinished business — unpaid taxes, lingering debts, and creditors worried they won’t be paid. To get through it all, you need the right guidance. This article is […]
Exiting or Closing a NY Business with Tax and Creditor Debt
Closing a business isn’t easy, but when you’re also burdened with significant tax and operational debts, you have to navigate a legal and financial maze full of potential pitfalls. The consequences of mishandling the closure can become quite costly. Missteps could lead you, the owner, to become personally liable for your business’s debts, face aggressive […]
New York Offer in Compromise: Qualifications and How to Apply
Falling behind on your New York State taxes is all too easy when you’re struggling with federal taxes, other financial obligations, and the stress that comes with dealing with tax authorities. However, failing to take care of your New York State taxes can lead to tax warrants, loss of income, seized assets, loss of your […]