Penalty Abatement for Tax Penalties
The IRS hands out billions of dollars in tax penalties every year. Common penalties are for failure to file or failure to pay. You may be eligible for a tax penalty abatement.
There is hope. You can request an penalty abatement to completely or partially remove penalties. Between 40 – 50% of the time, the IRS abates penalties when properly requested. The compound daily interest on the abated penalty also disappears.
You must have a good reason to request penalty abatement. Do you know what the IRS will accept? Neither do they. It depends on your circumstances and how you explain it.
The IRS procedures seem to differ in each case. The best thing you can do is to provide the circumstances of your situation.
For legal help with tax abatement, get in touch with our office today!