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Tax Payment Plan
If you've found yourself in a situation where you've fallen behind on your state tax debt, you're not alone. You've obviously already done everything you can to pay your tax bill in full and now you need alternative options. The best and most proactive approach you can take before the state comes and tries to seize your assets is to set up a tax payment plan.
Fortunately, each state across the country that we've worked with over the past 15 years has developed a payment plan program for people who are in your shoes. However, on a daily basis, our clients explain the difficulties that they have in trying to set up these payment plans on their own.
Here are some things to consider when trying to understand more about state tax payment plans:
Many times the tax authorities will tell you that you have to pay more than you can afford on a monthly basis. They figure that the ball is in their court so they have the leverage to control the negotiations. However, there are rules and procedures that must be filled and that knowledge is power. Getting a manageable payment plan is possible but one must understand the system and all the taxpayer rights that come along with it.
How long this issue has been going on and what history is noted on the case is of paramount importance in developing a resolution strategy. Depending on whether you have just been levied by the state or if you are just receiving your first collection warning notice, these unique circumstances will require different approaches to successfully obtaining a manageable payment plan.
If you are missing tax returns or current tax deposits, this will have an affect on the approach to obtaining a payment plan. The state tax authorities will want to have a game plan in place to address any outstanding compliance issues.
The end result should and has to be a plan that you can live with. Therefore, this is where the negotiation expertise of a tax professional can be the difference between a long-standing successful payment plan or one that is unmanageable and ultimately makes your tax debt situation even worse.
If you are looking to get some advice about negotiating a state tax payment plan or have a plan in place that you are uncomfortable with, we can help you. Each day, we speak with people just like you all over the country who have questions or difficulties with their state tax authorities.
Please let us know how we can be a resource for you as you move forward with your life and permanently resolve your tax debt.