Penalty Abatements - Polston Tax Resolution & Accounting
Penalty Abatements

Penalty Abatements

If you have an IRS liability you know the Internal Revenue Service loves to add penalties and interest to your debt and watch it grow. But did you know that there is an option to have penalties removed? It's like that saying "If you don't ask, the answer is always no." While there is no guarantee the IRS will grant you a penalty abatement it is in your best interest to try.  

There are many reasons you may have a penalty assessed. As a matter of fact, the IRS has the ability to assess over 140 different penalties. While we always recommend that you pay your taxes on time, there are often times that life just happens. When life throws you a curveball you can file a Penalty Abatement Request. Many circumstances will fall under reasonable cause. Some of these include: 

  • Death in the family 
  • Serious illness 
  • Unable to obtain records 
  • Incorrect advice from a tax advisor 
  • Fire, Tornado, Flooding, or other natural disaster 

This is not a complete list because there are a multitude of reasons that could fall under reasonable cause depending on your circumstances. But the Internal Revenue Service is not going to automatically give you IRS penalty relief, you must ask! 

Many taxpayers may also qualify for First Time Penalty Abatements if this is their first time to have an overdue tax debt. If your liability spans multiple years you will want to use this penalty relief on the largest penalty you can.  

If you need IRS penalty relief, call us at 1-844-841-9857 or fill out the confidential consultation request form below. We can help you determine the best plan to tackle your IRS liability and penalties.