Stephen B. Kass

Offer

Offer in Compromise Program

The New York State Offer in Compromise Program helps financially distressed taxpayers who face overwhelming tax liabilities. Taxpayers accepted into the program may pay a reasonable amount as a compromise, satisfying the debt in full. The program may consider offers from individuals and businesses discharged from bankruptcy, individuals and businesses that are insolvent, and individuals for whom paying the debt in full would cause undue economic hardship. Taxpayers must have filed all required New York State tax returns. The proposed compromise must be an amount the Tax Department realistically expects it could collect within a reasonable period of time, based on the total value of assets, anticipated future income, or information submitted by the taxpayer. Offers are not automatically accepted, and collection efforts may continue during review.