TAX DEBT RELIEF OPTIONS – Mississippi Department of RevenueM&M Financial has been successfully resolving back tax liabilities for small businesses and individuals in Mississippi 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
MONTHLY INSTALLMENT AGREEMENT TO RESOLVE MISSISSIPPI BACK TAXESBusiness Payment Plans
Mississippi Department of Revenue (MS-DOR) will typically allow a business into a 6-month Payment Plan with a 33% down payment requirement
. The MS-DOR does not
offer longer Payment Plans that are formally approved in writing. You may be able to get an informal payment plan with longer terms.
Although an informal payment plan may give you more affordable terms, it may not protect you from enforced collection actions such as bank levies .Individual Payment Plans
If you are filing a timely tax return with a balance due between $75 and $3,000, you can request a 12-month Payment Plan
using Form 71-661
. To have your Payment Plan request approved you need to have a clean track record for the previous 5 years tax compliance
. This means you have not –
- Failed to file a tax return
- Failed to pay any required tax
- Entered into a similar 12-month Payment Plan
If you don’t meet the criteria for the 12-month Payment Plan, you may need to follow the guidelines under Business Payment Plans above.
REDUCE YOUR MS-DOR TAX DEBT
Offer in Compromise & Penalty Relief
MS-DOR recently placed some information on the website about their Offer in Compromise program.
MISSISSIPPI TAX RESOLUTION CASE EXAMPLES
The Mississippi 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. Here are some case examples in your state negotiated by M&M
page last reviewed 1/10/2024Get Free Tax Guides & Evaluation