Penalty Abatement

Penalty Abatement


If your taxes aren't paid on time the IRS charges you penalties and interest. These penalties are then added to your tax debt as well as the interest due for delinquent accounts. Once your account is past due and interest starts to be applied there is no reversing those added charges unless there is valid reasoning. The justifications for having penalties removed or reduced are:
  • Can you fully pay off your tax debt?
  • Do you have reasonable cause or good faith argument that is documented?
  • Is this an isolated incident?
  • Did you self-comply or were you forced to comply?
The IRS does not qualify forgetting or ignorance as justifiable reasoning. The circumstances must be significant and even if your reasoning do qualify under the IRS's standards a majority of the time they reject it on the first submission. There is an appeals timeline that needs to be carefully watched and take care of, which is exactly what Tax Resolution Professionals will do for you to ensure that you end up paying the least amount necessary.

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