The IRS issues billions of dollars in penalties each year, but not all taxpayers have to pay them. Our penalty abatement experts help reduce or eliminate tax penalties, potentially saving you thousands of dollars through proven strategies.
The IRS issues billions of dollars in penalties each year and intends to collect on all of it. However, they realize that some people can't or shouldn't have to pay, and removing those cases from their books allows them to pursue those taxpayers who can and should pay.
Not all taxpayers will qualify for penalty abatement. It depends on the particular financial circumstances of that individual and the type of penalty being assessed. Every case is unique and the IRS will decide each case by either approving or denying the abatement request based on the information you provide.
The IRS charges penalties on top of your tax debts because they're designed to encourage you to follow the rules and remain in compliance with federal tax laws. Every year, the IRS assesses tens of millions of penalties for taxpayers that total billions of dollars.
However, the IRS does provide several options to get your penalties removed or abated if you're able to qualify for penalty abatement.
Did you know that there are about 150 penalties in the Internal Revenue Code? However, only a few of the most common penalties make up 74% of all the penalties charged every year:
Imposed if you don't pay taxes on time
Imposed if you don't file a return on time
Imposed if a business doesn't pay employment taxes on time
Used when you can prove a specific authoritative exclusion to the penalty. Examples include disaster relief or combat zone relief.
You need to show documentation that the mistake resulted from reliance on IRS advice. Requires documented erroneous advice from the IRS.
When you can provide a valid reason that you could not comply based on your specific facts and circumstances.
Taking advantage of provisions designed to provide relief under certain conditions, including First-Time Penalty Abatement (FTA).
First-Time Penalty Abatement (FTA) is the easiest of all available penalty relief options. You can use FTA to decrease failure to deposit, failure to file, and failure to pay penalties for one tax period if you have a clean compliance history for the past three years.
It is important to have expert representation on your side for this process. Our mediation experts will prepare your request and submit it to the IRS on your behalf. We tailor and prepare a customized request that has offered proven results with past clients.
The information we gather from the client assists us in preparing a comprehensive and complete abatement request, which results in the best chance that your penalty abatement request will get approved.
Don't let IRS penalties destroy your financial future. Our tax specialists have the experience and expertise to walk you through the entire penalty forgiveness application, identify which solution is best for you, and help you solve your tax problems once and for all.
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