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Ring in 2018 with clean slate

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Wed, Dec 27th 2017 12:25 pm
NYS Tax Department offers an array of ways to resolve tax debt
Editorial by the New York State Tax Department
The New York State Tax Department offers a variety of programs to help those who owe back taxes resolve their debts and improve their financial outlooks.
"Give yourself the gift of a clean slate this holiday season," Acting Commissioner Nonie Manion said. "If you have tax debt, ignoring it will only make the problem worse, as penalties and interest accrue. Get a fresh start using one of our convenient online options to pay your bill, or contact us so we can work together to resolve your case."
The Tax Department offers a variety of payment options and free resolution services described below.
•Installment payment agreements are available to qualified taxpayers who can't pay their bill in full. See "Request an installment payment agreement" for more information.
•Quick Pay, launched earlier this year, provides a way for individuals to promptly pay a tax debt or bill online any time. As of early November, taxpayers have paid $29 million using this application.
For details, see "Pay a bill or notice."
•The voluntary disclosure and compliance program (VDCP) allows eligible taxpayers to come clean about unfiled tax returns and unpaid taxes to avoid penalties and possible criminal charges. See "voluntary disclosure and compliance program" for details.
The VDCP has brought in more than $1 billion since its inception in July 2008, averaging more than $110 million in collections each year. In the fiscal year that ended March 31, 2017, the VDCP exceeded this average by $40.5 million.
•The offer in compromise program offers a way for financially distressed individuals or businesses to put overwhelming tax liabilities behind them by paying a reasonable portion of their debts. See "Offer in Compromise Program" for details.
Remember, too, if you disagree with a Tax Department bill or notice, you have the right to challenge it. Informal and formal protest options are available. See "Challenge a Tax Department actions" for information and related videos.

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