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New Jersey Closing Agreement

Indeed, a final agreement is the same general idea as a compromise offer (OIC). In other words, the taxpayer asks the State to accept an amount lower than his total tax debt. The agreement includes the tax due as well as penalties, interest and any collection costs. `[F]or, in any case where there appears to be an advantage in closing the case permanently and definitively, or where the taxable person has sufficient good reason to wish for a contract of conclusion and the Director finds that the State of New Jersey will not suffer any disadvantage in entering into such an agreement.` Northfield 1915-A New Road, Route 9 Northfield, NJ 08225 Fair Lawn 22-08 Route 208 South Fair Lawn, NJ 07410 The department will let the taxpayer know if the request for a final agreement has been accepted, denied or if a counter-offer has been proposed. Taxpayers usually receive this notification within 3-6 months of filing their application. The taxpayer does not have the right to appeal the rejection of an application for an end-of-contract contract. However, they have the option to re-file the application if their circumstances change. In addition, the tax debt is not verified and the taxpayer cannot claim a refund. By mail: State of New Jersey, Division of Taxation, Office of the Taxpayer Advocate PO Box 240, Trenton, NY 08695-0240 By fax: (609) 984-5147 By email: nj.taxpayeradvocate@treas.state.nj.us Decide if you want to pay your IRS taxes with our tax experts In your application, you must state why you do not think you should pay your tax debt in full, the amount of money you can pay in a lump sum for your tax debts, as well as the source of these funds.