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Question

The State of New Mexico is billing me for gross receipts from 2005 and 2006 for my medical transcription business. I have since closed my business and have no income and am living out of state at this time. What are my options?

Submitted: 448 days and 17 hours ago.
Category: Tax
Value: $30
Status: CLOSED
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Posted by Merlo 448 days and 17 hours ago.

Info Request

Hello cwray,

 

Did you file a federal tax return for this same income and pay federal taxes or is it just the state that you did not file?

448 days and 16 hours ago.

Reply

I filed federal taxes and also New Mexico State tax. I am current with all my taxes except this gross receipts thing. In 2006 I did comply with getting a CRS number and did pay gross receipts on a smaller account that I had. However, on the larger account, I was remiss and just let things go. They did an audit on me because I asked to close out my CRS number now that I'm no longer doing business. The penalties and interest are unbelievable and it would take me until I'm 110 years old to pay anything back. I have no property and no debt, no income at this time.

Accepted Answer

Hello again cwray,

 

I am sorry I did not realize from your original question that you were referring to New Mexico's gross receipt tax that you are being asked to pay.

 

Unfortunately there is no easy fix or answer to your problem. Taxpayers remain responsible for any type of tax they may owe at the federal level, state level or local level. Even though you no longer live in the state and the fact that you are not currently working will still not relieve you of this debt.

 

From what you have described, it sounds as though the state is billing you based on your gross receipts alone. Is it possible that some of your gross receipts from those years would be exempt from the gross receipts tax, such as services that you provided to clients outside of the state of New Mexico? If you had some receipts which were exempt, that would help to reduce your tax bill, but you would have to file the paperwork with the state to show them your exempt receipts so that they could recalculate the amount you owe.

 

At that point if you can still not afford to pay the taxes that are due, the state will generally work with you to work out an acceptable payment plan. Unfortunately, interest would still continue to accrue on your tax bill until the amount was paid in full, but at least it would buy you some time until possibly you are once again working and have enough income to pay this debt.

 

I am sorry I could not give you more encouraging news as I realize this must be a very stressful situation for you, but hopefully you can work out an acceptable payment plan that can get you through this situation.

 

If this was helpful please press the Accept button.

 

Thank you and good luck in getting this resolved.

 

 

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Expert: Merlo
Pos. Feedback: 99.8 %
Accepts: 
Answered: 8/31/2008

Accountant

25+ years tax consulting. Specializing in returns for US citizens living abroad

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