Legal Question in Tax Law in New Jersey

Re: Tax Relief

There are several alternatives that may solve your problem. Your situation must be analyzed in detail. Has the 10 year Statute of Limitations lapsed or is it close to lapsing. Is your financial condition such that you are eligible for an Offer in Compromise, where you pay less than what you owe? Can you show that you do not hae the ability to pay $750 a month under the IRS standards, which would allow a reduction of your installment plan or would put you in uncollectible status where you would not make any payments at the present time? Are you eligible for bankruptcy, an area of law that I do not handle, but you may have to consider? Do you have reasonable cause for not paying that would allow a penalty abatement? You need to contact a qualified tax attorney to explore these issues. You must take care of this now because with the present payments, you will be unable to pay one month, the IRS will default you, and they will levy your wages and bank account. Steve Klitzner