Many states including Ohio have an Offer-in-Compromise program similar to the program offered by the IRS. The Ohio Offer-in-Compromise program is handled through the Attorney General’s Office. Like the federal program, the taxpayer may submit an offer based on doubt as to liability or doubt as to collectability. However, unlike the federal program, the taxpayer will be required to make full financial disclosure of the taxpayer’s assets and income whether the offer is based on doubt as to collectability or doubt as to liability.
The Offer amount if accepted may be paid in a lump sum or over a period of time. While the offer is pending, all collection activity generally ceases.
If you or someone you know is having trouble paying state taxes or workers compensation, we may be able to submit an Offer-in-Compromise and reduce or eliminate the taxes. Give me a call or email if you want to know more about how you can make an Offer-in-Compromise to reduce or eliminate state taxes. Jsenney@pselaw.com or 937-223-1130. AND ONE MORE THING. Some long time successful businesses have had their bank loans called or lines of credit shrunk or eliminated in the last couple of years. And despite the bank bailout and the modest recovery the economy has made, some banks are still turning off lines of credit for credit-worthy businesses. If you are in this situation, give me a call. There are some banks out there that are still making loans and extending lines of credit. Give me a call or email and I can tell you who you want to talk to. Jsenney@pselaw.com or 937-223-1130. |
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Serving Dayton, Serving You
Pickrel, Schaeffer & Ebeling Co., LPA, 2700 Kettering Tower, Dayton OH 45423
Tax, Business, ERISA, Employee Benefits, Real Estate, Construction Law, Private Placement Security Law, Employment Law, Workers Compensation, Probate, Estate Planning, Succession Planning, Bankruptcy, Creditors Rights, Immigration Law, Litigation, Arbitration, Mediation
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