State Installment Arrangements
Most states allow for a workable payment plan between the taxpayer and the state that is owed the taxes. Most states want the taxpayer to pay the back tax debt in full and without delay. In fact, most state taxing agencies are much more aggressive in their collection efforts than the IRS. Before granting an Installment Agreement, the states will usually encourage the taxpayer to borrow from a private source to pay the tax liability in full. Given the current economic situation and the effects of the recession on most state economies, the states are tightening the screws on the payment of back taxes. The Tax Compliance Officers are less likely to compromise unless you have the experience of trusted Tax Experts on your team.
At FinishLine Tax Solutions, we know how to work with the State Tax Compliance Officers to develop an Installment Agreement that works for you. If you do not have the financial resources to cover your tax debt, you may be eligible for an Installment Agreement. Although most states want you to make the largest monthly payment possible, we have the experience and the expertise to negotiate an Installment Agreement for you that is designed to keep your livelihood intact while satisfying the state taxing agency at the same time. Due to the strict nature of most state taxing authorities, interest and penalties can continue to accrue until your tax debt is paid in full.
Once negotiations have begun, we have the ability to achieve the best terms for you through an Installment Agreement with the state taxing agencies. We have clients in all 50 states and therefore are keenly familiar with all state rules, protocols and tax codes.
Once we successfully negotiate your Installment Agreement, we will require you to agree to the following conditions:
Verify that you presently have a financial hardship and cannot pay your back taxes.
You will file and pay all future tax returns in a timely manner.
To determine if an installment agreement is the best way to resolve your state tax debt, call us for a free consultation. By contacting us today for information about Installment Agreements, you will receive quality representation that may assist to ensure a secure and viable financial future for yourself and your family.