Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
If your tax debt is over 3 years old, the tax return
filed over 2 years ago, and the tax assessed is over 240 days old you can get the tax debt discharged during bankruptcy
. Work with a qualified attorney in your area to get some of this debt wiped away. This would only work with your older income
. Contact a bankruptcy attorney to evaluate your particular situation.
Another thing you can do is to file an offer in compromise, particularly if you do not have any significant assets
. Keep in mind that your retirement
account would be considered an asset, as would your home. Work with a qualified tax professional and see if you can get a lump sum amount approved by the IRS and state
of New York for less than what you owe. Definitely work with a tax professional on this, but not one of those "we settle IRS debt for pennies on the dollar" infomercial places. Use a reputable Tax attorney, CPA, or EA in your area. ** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid, but the Web site will still collect your payment. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site**