TAX DEBT RELIEF OPTIONS – Colorado Department of Revenue


M&M Financial has been successfully resolving back tax liabilities for small businesses and individuals in Colorado since 2008 and nationwide since 2005.  We deal with the IRS and State taxing authorities for you, so you do not have to!  
Below is some information that will help you start resolving your state tax liabilities.  If you have questions and would like to talk to a licensed Tax Resolution Specialist please do not hesitate to call us at 866-487-5624.


PAYMENT PLANS TO RESOLVE COLORADO BACK TAXES


Colorado Department of Revenue will allow delinquent taxpayers to pay satisfy their tax debts through a payment plan or Agreement to Pay.  The CO-DOR website provides a lot of information on how to set up an Agreement to Pay for individual taxes, but not much information for businesses.  You can expect similar guidelines.

Here’s a summary of what to expect when setting up your Agreement to Pay –
  • 15% of your total tax liability may be required as a down payment
  • Tax Compliance is a must
  • Log into your CO Revenue Account online or call the DOR directly at (303) 205-8291 to request a payment plan with a DOR Agent directly
  • Complete Form 6596 Statement of Income and Expenses if you need to request an extended term Agreement to Pay
Quick Tip:  Colorado Department of Revenue uses 2 third party collection agencies to assist in collecting back-tax debts.  If your case is transferred to either collection agency, you will have to deal directly with them.  Our advice is to be proactive to avoid this!

REDUCE YOUR COLORADO TAX DEBT


Offer in Compromise


Colorado DOR does have an Offer in Compromise (OIC) program, which allows qualifying taxpayers to settle for a lesser amount.  The CO-DOR Offer in Compromise program is similar to the IRS.  A viable candidate for the OIC typically lacks equity in assets and lacks the ability to pay monthly.  
The Offer in Compromise is typically not a realistic option for an operating business.

Find more Offer in Compromise details on the DOR's website.

Quick Tip:  Collection actions such as garnishments and levies will not stop due to the submission of an Offer in Compromise.

COLORADO TAX RESOLUTION CASE EXAMPLES


The Colorado Department of Revenue has some flexibility when it comes to back tax liabilities.  Each case varies based on factors such as your compliance history, type of tax owed and total amount past due.  Click below to see some case examples in your state negotiated by M&M.


page last reviewed 1/4/2018

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