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 […]
Can You Settle Payroll Taxes With an Offer in Compromise?
Settling a Payroll Tax Debt Using an Offer in Compromise Payroll tax issues can be particularly problematic due to their complexity and the ease with which they can quickly rise to unmanageable levels. Even a simple mistake could lead to a massive tax debt in just a few months. Luckily, there’s a way to settle […]
IRS Letters 5664 and 5857: Late Payroll Taxes
Revenue Officer Wants to Talk With You About Late Payroll Tax Deposits If the IRS finds a problem with your payroll tax activity, you could receive one of these letters requesting that you talk with a revenue officer: Letter 5664, FTD Alert Field Contact Letter, or Letter 5857, FTD Alert Telephone Contact Letter. The IRS […]