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Believe it or not, there are over 140 penalties that the IRS can impose on you. These penalties are usually added to your tax account by a computer, so a human being is not assessing the circumstances that contributed to the addition of the IRS tax penalty, or penalties, to your account.
Common penalties include:
- IRS tax penalties for late payments
- Not making any payments
- Not filing a tax return
- Return on information
- Tax that has been estimated
- Deposit failure
- Related to a return
Penalties are imposed to ensure compliance with IRS rules and regulations, but, as stated before, there are times that certain circumstances are not taken into consideration and penalty abatement must be utilized.
Penalty abatement means you do not have to pay the penalties assessed to your account if you have a good reason. If you have already paid off your tax debt, you may also be eligible to receive a refund of the paid penalties. However, a tax abatement request has to be submitted to the IRS and it can be quite difficult to file.
First is the penalty abatement letter. Specific wording is needed and the individual writing the letter must understand IRS code. That is where we come in to help you. We understand the rules and regulations surrounding IRS tax penalty abatement, so we can use the wording that the IRS is looking for. Without professional help, it is difficult to resolve the situation.
Our goal is to get all penalties and maybe even some of the interest removed or refunded through the penalty abatement process. To do this, we prove to the IRS that there is a viable reason as to why the penalty should not have been assessed. It is also important that we show the IRS you have not neglected paying your debt. We do this in a language the IRS understands and we do it according to the IRS code. All you have to do is contact us and let us help.
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