Tax Relief Buffalo NY
Tax relief is any program or incentive that reduces the amount of tax owed by an individual or business entity. That is a very broad definition and to narrow it down we need to make sure a few things are clearly defined. What is Tax Relief to Buffalo NY taxpayers? It depends on whether the tax relief is for an individual and business. Which do you fall under? Either way, federal taxes are under the purview of the Internal Revenue Service (IRS) and state taxes are handled by the Department of Taxation and Finance for the State of New York. Tax Relief Buffalo. The question now is do you owe money to the IRS or State of New York and if so, how much? You need to call Tax Relief Systems now because ignoring it will not make them go away. (240)803-5118
Tax Relief Buffalo NY
Buffalo, NY taxpayers are in dire need of relief from the burdens imposed by past due tax bills that have seemingly gotten out of control, by no fault of their own. The options available from both agencies are simple and are almost identical however going it alone to resolve your issue is not recommended. Even with the options, they will not stop the relentless actions by their agents to collect monies deemed owed. If anything, it makes them more aggressive, in their view you owe the money and you need to pay quickly. Often a discrepancy can exist between the amount they think you owe and what you really owe. This discrepancy needs to be sorted out and you cannot go at this alone. You need a tax relief expert to assist in resolution. Self-representation is not recommended. As with other parts of the country, sometimes Buffalo taxpayer cases are eligible for tax bill reduction or elimination. This may be a feasible option depending on your unique circumstances. Are you ready to start your relief now? (240)803-5118
Buffalo Tax Relief – Options Relieving Stress
For tax relief, in Buffalo, we need to examine the different options available and find the right one for your unique situation that fits within your budget. Sometimes its best to begin by looking at the option most people think of when they imagine tax relief. Taxpayers like the idea of paying less, in the end, than they owe. Offer in Compromise is an option for tax relief if the IRS is convinced it will be unable to collect the entire amount it is owed. Or, there is a doubt as to the accuracy of your tax bill. Or, full payment of your back taxes will cause a serious financial hardship, then you may have the unique option of settling for less than the full amount of taxes you owe.
The next option in the list of options is Financial Hardship consideration. Financial Hardship is an option for tax relief where financial hardship is taken into consideration. In cases of serious financial hardship, the IRS will consider a variety of solutions to ease your situation. You may be able to skip a monthly payment, reduce your monthly payments, for example, or the IRS may suspend collection efforts.
- Natural Disaster
- Currently unemployed and it would cause financial hardship to pay taxes owed
- You received a significant decrease in pay and paying the taxes owed would cause financial hardship
- Large medical expenses incurred or currently ill
- Unexpected home or auto repairs that caused financial hardship
- Death in the Family
- Large moving expenses
- Separation or Divorce
- Child Support
Penalty Abatement is an option for tax relief in cases of a major illness, unemployment or the loss of tax records in a natural disaster, the IRS will consider waiving all or some of the fees. The fees, fines, and penalties can increase your overall tax bill by 25% or more. If this is the case, you will still be responsible for paying the underlying taxes.
Did your spouse make a mistake and now your left holding the bag? Innocent Spouse Relief is a special circumstance option for tax relief by which your IRS issue is the result of erroneous tax returns filed by your spouse or ex-spouse. In this circumstance the government will consider what is known as innocent spouse relief, which relieves you of the responsibility of paying back taxes owed as a result of your spouse’s fraud or deception. However, you may still owe unrelated back taxes.
Buffalo, NY is feeling a similar increase in tax related problems. Tax Relief Systems, LLC has experienced firsthand the burden tax issues weigh on families and individuals. The stress is amazing. You do not have to go through this alone. This view, of Buffalo tax relief, has refocused our dedication to assisting individuals and businesses find a solution to IRS and New York Tax problems. Our staff of professionals has seen almost all possible tax situations and are able to confidently provide solutions. If you’re not sure where to start, our Buffalo office is just a phone call away. (240)803-5118
Do not wait these issues must be addressed now. If you are experiencing any of these, please call us today. Any misstep can cost you money.
Our Buffalo team is waiting to help. Please call us today to help relieve your tax issues. Do not hesitate or procrastinate when dealing with the IRS or State Tax Department.
Schedule your Free Consultation! (240)803-5118