Offers in CompromiseNew York City and State Tax Controversies

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New York State taxpayers who are insolvent or discharged in bankruptcy, or for whom payment in full of an outstanding tax balance would create “undue economic hardship”, qualify for consideration by the State Tax Department for an Offer in Compromise.


A binding agreement whereby the State agrees to settle the tax debt for less than the full amount owed.

The Offer in Compromise program is not simple. It is highly document-intensive, and can take some time. And again, not everyone qualifies. If you are not insolvent or bankrupt, it is necessary to prove undue economic hardship; this means that New York State can conduct a detailed review of your family’s personal finances.

Before thinking of applying on your own for the Offer in Compromise program, consult with our office. We will be able to give you advice specific to your situation that will save you time.

Fill out the form below or call us at 646-326-9971 for a free in-office consultation.

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Bradley R. Bailyn, Esq. , Founder

Bailyn Law provides comprehensive legal and advisory services in the fields of bankruptcy and out-of-court debt workouts. We serve companies and individuals who wish to restructure their businesses or their finances to improve liquidity and increase profitability. We also advise creditors seeking to protect their legal rights and economic interests.

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6301 Mill Lane Brooklyn, NY 11234

One Rockefeller Plaza, Tenth Floor New York, NY 10020

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The Bailyn Law Firm, P.C

 

6301 Mill Lane
Brooklyn, NY 11234

 

One Rockefeller Plaza, Tenth Floor
New York, NY 10020



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6301 Mill Lane Brooklyn, NY 11234

One Rockefeller Plaza, Tenth Floor New York, NY 10020

THE BAILYN LAW FIRM, P.C.