Although some individuals in New York are concerned about tax day approaching, others are still focused on tax issues they are dealing with from previous years. When tax debt exists, individuals and businesses will face collection. These can be trying times, causing them to be unsure about what can be done and how they can move forward.
Being informed via a phone call or a visit that tax debt is being collected against can be an overwhelming and confusing time. One may not fully understand what to do in these matters. It is vital to be proactive, which means not delaying action. And by addressing this matter right away, one could prevent delinquency.
At Auerbach Law Group, P.C., our skilled legal team takes the time to explain what options are available to our clients. This means looking at the situation as a whole so we can help our clients obtain a resolution that works best for them. With regards to compromises and installment agreements, these are possible methods to help reduce IRS debt. Reaching a compromise could help one settle his or her tax liability. It is also possible to negotiate an installment agreement, which can help minimize the impact on an individual or their business.
To learn more, check out our law firm’s federal and state tax collections website. It is very possible to work through these often complex matters. By understanding your options and what strategies are available, one can reach a workable resolution. No one wants to deal with tax liability, which is why it is important to timely address these matters.