my business owes back "Sales Taxes"...are there any sources able to negotiate a payment plan to stay "open"

Question

Sales taxes owed....$40,000 in New York State..

Answer 1

While it may be possible to negotiate over income taxes, public trust funds such as sales taxes and employee withholdings are an entirely different matter. The funds were never yours legally and most states will not negotiate on those.

To put it succinctly there is no excuse for comingling public trust fund revenues with your business funds and failing to pay them to the state when due.

Answer 2

The State of New York Dept of Taxation makes some very vague references to payment options. Any payment agreement would require you pay all your current taxes as well as making payments on the delinquent tax.

If you are unable to pay in full at all, the state has an offer in compromise program that allows "financially distressed taxpayers the opportunity to put overwhelming tax liabilities behind them by paying a reasonable amount." The taxpayer must be insolvent and offer more than the state thinks it could collect otherwise. I handle this kind of problem with federal taxes. There is nothing in the official instructions that state the business must be closed. The state process is similar. You can email me through my profile if you want to discuss it outside this forum.

Answer 3

i look at it this type-i'm no longer a JW btw- i wager you may learn that good judgment to a instructor who on the first actual day of school instructed the whole class, 'all and assorted receives an A'. Afterall, the instructor is being type to the youngsters. If all little ones already received an A from the gettgo, what's the point of the instructor training the category? and what might want to be the point of the youngsters doing their homework or listening in school in the experience that they have got already got the A? See, the instructor gave the youngsters the probability for all of them to have that A and yet she maintains to coach in hopes that those little ones can shop that A by ability of their performance or by ability of their difficult artwork shown in school. in my view, and that i'm sorry if this complete good judgment element does no longer make any experience- that's a similar with God. He gave us all a probability to have eternal existence notwithstanding that's as a lot as us to shop that probability he gave. perfect?? NO? incorrect? oh properly. that is my opinion. a JW might want to have an complete different clarification or good judgment hehe

Answer 4

Call a tax advisor. I'm sure there is and they can help you.