Criminal Defense Lawyers

NYS Offers in Compromise Tax Lawyers

An offer in compromise is a binding agreement where New York state agrees to accept less than the full amount of tax, interest, and penalties due. This is something our NYS Offers in Compromise Tax Lawyers can help with.

If you owe tax debt in NY, you could qualify for the NYS OIC – offer in compromise. In this situation, New York state lets you clear your tax debt for less than what you owe. Both businesses and individuals can apply. It’s great if you can’t afford monthly payments on an installment payment agreement. The Department of Tax and Finance provides this option to taxpayers struggling financially.

If you believe your tax liability is incorrect, that’s another situation where this can also apply.

NYS Offer in Compromise Reasons  | NYS Offers in Compromise Tax Lawyers

NYS accepts offer in compromise for one, or both, of the following reasons

• Doubt as to liability
• Doubt as to collectibility, or individual taxpayer would experience undue hardship if she/he had to pay in full

Doubt as to liability

This is a situation where the state is not sure if you owe the funds or not. This can happen in a number of situations. It can include situations where the state refused to proceed the amended tax return. It can also be for situations where the state made incorrect changes to your tax return.

Doubt as to collectibility

This is where the state believes it simply will not be able to get the funds from you. It’s where the collection in full would cause economic hardship. This only applies to individuals, not businesses.

Christine Twomey

2024-03-21

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Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

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Undue economic hardship is where you cannot afford basic expenses. Reasonable expenses mean things like food, clothing, housing. It can also include things like utilities, transportation, so forth – basic necessities. In other words, expenses which support your health, welfare, and your family.

NY state uses the IRS’s financial standards as a reference for determining allowable living expenses. The state of NY accepts most reasonable expenses

When determining doubt as to collect, DTF considers the following items

• Taxpayer age, employment history, current employment status, ability to earn
• Total # of dependants, ages, health
• Cost of living in the area
• Situations like special education expenses, medical catastrophes, etc

NY State also looks at the following factors

• Is there a family member, or is the taxpayer, suffering from a disability, or long-term illness
• Whether all the monthly income is spent on caring for a dependent

Eligibility Requirements | NYS Offers in Compromise Tax Lawyers

Individuals, and businesses, have to meet certain criteria in order to be eligible for an NYS offer in compromise. You be insolvent, or bankrupt, or paying in full must create undue economic hardship. If NY state believes that the offer undermines tax compliance, then it won’t work with you. In other words, the state will only approve offers that don’t undermine its authority. If you have a history of noncompliance, it won’t approve it.

The state only allows one proposal for a tax debt from a particular period.

What You Need to Understand

Here are some points you should understand before submitting your offer in compromise in New York

• Submitting the OIC doesn’t automatically suspend collection of a warrant
• Submitting an offer doesn’t change the time you have to respond to the assessment
• The statutory period of collection is suspended while the offer is in the pending status, and for a full year afterward
• You have to file all tax returns, and pay all tax owed for five years after the offer is accepted
• If you qualify for any refunds, or credit, then the state applies those to your tax debt
• You have to provide a collateral agreement to the state. This is where you agree to pay more than the offer, if you get extra income.
• If you submit an OIC for trust taxes on behalf of a business, then responsible individuals in the business could be still held personally liable.
• If the tax bill is over $100,000 then a NY Supreme Court judge has to approve the OIC.

Common reasons for an NY offer in compromise to be rejected

Here are some common reasons for rejections

• Taxpayer isn’t insolvent
• Your application doesn’t prove that paying in full will cause undue hardship
• The state thinks it can get more from you by taking legal action
• The application has false information
• there is evidence you transferred assets after learning about tax debt
• You didn’t make a good faith effort to pay the debt
• The tax debt is related to a crime
• There are many other reasons….

Consider speaking to a NY offer in compromise attorney 

Consider speaking to our NY offer in compromise lawyer today.