Guide to Resolving Nevada Tax Problems, Back Taxes, and More

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The Nevada Department of Taxation is responsible for collecting Nevada taxes and enforcing the state tax laws.

Payment Plans for Tax Debt

If a taxpayer cannot pay the full amount of taxes owed the state of Nevada will consider a payment plan to allow the taxpayer to pay back the taxes in monthly installments. Once entered into an installment agreement the penalties on the debt will stop but the interest will continue to accrue on the outstanding tax liability.

It is a good idea to consider other payment options before entering into a payment plan because the Nevada Department of Revenue requires that a lien be placed on your assets until the entire balance is paid back. A tax lien could hurt your credit and prevent you from getting any other financing that you may need while entered into the payment agreement.

Applying for a Nevada Payment Plan

First thing you need to do is contact your Revenue Officer at your local office to schedule an appointment. The Revenue Officer will help you through the process of filing the following documents:

  • Letter: A letter requesting a payment plan which includes a description of the business that owes taxes, reason for owing taxes, reason it couldn’t make a payment in full, and the monthly payment amount you are seeking to make.
  • Payment Agreement form: This form specifies the terms of the agreement and is signed by the taxpayer. The Revenue Officer will provide this form.
  • Payment Agreement Form: A document that is signed by the taxpayer that makes them personally liable for the debt they plan to repay. The Revenue Officer will provide the payment agreement form.
  • Financial Statements: Individuals must complete this form and businesses must complete this form. The Revenue Officer will also provide these forms.

Request for Waiver of Penalties and Interest

Nevada tax law allows the Nevada Department of Taxation to reduce or waive penalties and/or interest that have accrued on unpaid tax balances if the taxpayer can prove that the circumstances for them not being in compliance were out of their control.

To request the department to waive penalties it is required to fill out the Nevada Request for Waiver of Penalty and/or Interest form and provide name, address, tax ID, tax periods and a description of the reason(s) why the penalties should be waived.

Nevada Offer in Compromise

With an offer in compromise, the state of Nevada will accept an amount that is less than the full liability and the entire liability would be considered to be paid in full. These types of agreements are mainly accepted in situations where a collection of tax would cause severe individual financial hardship or would cause a business to go insolvent.

Nevada will allow tax liabilities be be compromised for the following three reasons:

  1. Doubt as to Collectability: This is when there is doubt that the taxpayer will ever be able to pay back the full amount of taxes owed. With this type of request it is required that financial statements are filed (Financial Statement for individuals, Financial Statement for Businesses)
  2. Doubt as to Liability: This is when the taxpayer believes they do not owe the amount of taxes that have been assessed. It must be described in a written request why taxes are not owed and the offer must be made of the correct tax amount. Financial statements are not required if using this reason to compromise the tax liability.
  3. Consideration of Equity and Fairness: These situations are typically from hardship but not necessarily financial hardship. If payment of the full amount of tax would create hardship or would be unfair and inequitable then a taxpayer could be considered under this reason.

Filing for an Offer in Compromise

A taxpayer wishing to file for an Offer in Compromise will be given 30 days to complete the OIC form and required documentation. If it is not completed in 30 days then further collection activity will continue from the State of Nevada. The following documents must be filed:

  1. Nevada Offer in Compromise Form
  2. Personal Financial Statement (for individuals if filing under reason 1 and possibly under reason 3)
  3. Financial Information Statement for Businesses (for businesses filing under reason 1 and possibly under reason 3)

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