100+ Years of Combined Tax Resolution Experience.
If you have an IRS liability, then you know the Internal Revenue Service loves to add penalties and interest on top of your unpaid taxes 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. If you need IRS penalty relief, call us at 844-841-9857 or click on the CONTACT US button below to fill out a contact form. We can help you determine the best plan to tackle your IRS liability and penalties!
Penalty abatement means that you may receive an administrative waiver for a penalty applied to you by the IRS. If you failed to file your tax return on time, did not make a payment or encountered another tax filing error, you may be facing a penalty for the action. However, in select cases, the IRS may provide penalty abatement, in which your penalty fees will be waived.
Many different events can lead to your receiving a penalty, and exploring all your options for administrative relief is vital. When you partner with Polston Tax, we can identify your best opportunities to handle your penalty from the IRS.
You may have a penalty assessed for many reasons. 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, life’s troubles can often prevent that from happening. When life throws you a curveball, you can file a Penalty Abatement Request. Many circumstances will fall under reasonable cause. Some of these include:
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! Around one-third of all penalties imposed by the IRS are later abated, meaning you might have more of a chance to have your penalties abated than you previously thought.
Abatement can help you get rid of the penalties imposed on you when you were unable to pay taxes. Most penalties are incurred on unintentional infractions frequently caused by incorrect advice or financial constraints on the filer. The following three penalties make up a total of 74% of all IRS penalties, and we have the knowledge and experience to help you challenge them:
When you choose tax abatement solutions, you have the opportunity to avoid these penalties and move forward without hassle from the IRS.
Many taxpayers may also qualify for a First Time Penalty Abatement if this is their first time having overdue taxes. The IRS First Time Penalty Abatement waiver helps those who have clean IRS compliance histories for the past three years and have accrued penalties due to failure to deposit, failure to file or failure to pay. No matter how high your penalty amount is, we can still help you file a First Time Penalty Abatement.
If you do qualify for First Time Penalty Abatement (FTA), you may receive administrative relief for an otherwise applicable penalty due to a tax liability with the IRS. You may be eligible for abatement if you meet the following criteria:
Until you pay the tax amount in full, your failure-to-pay penalty may continue to accrue. In some situations, you may have an advantage by waiting to request first-time penalty relief until after you have fully paid the taxes owed.
If you face a tax penalty, keep in mind some essential best practices to request abatement:
As you begin the process, the most crucial step you can take is getting skilled assistance to help you navigate complex requirements. When you work with Polston Tax, we’ll handle legal issues and communicate with the IRS to help you get a swift resolution.
If your liability spans multiple years, you will want to use this penalty relief on the largest penalty you can. Your chances of getting a Penalty Abatement approved are much higher if you hire an experienced tax professional – let us help you!
At Polston Tax, we understand the complexities of tax law, and we bring in-depth insight and two decades of experience to serve our clients. Tax law is the only service we provide, so we’re fully committed to handling these negotiations and bringing resolution to your case.
For each case, we have a team approach, so you have a group of professionals behind you every step of the way. From a tax attorney to a case manager to a tax preparer, our team will be able to meet your specific needs as quickly and effectively as possible.
We work with the IRS every day, managing many different cases, so we know the right strategies and negotiation approaches to handle your situation. From start to finish, we’ll be on your side until we close the case. Whether that means appealing a decision, helping you file forms or confirming with the IRS, we’ll do what it takes to solve your tax issues. We offer free consultations to help you understand our services and how we can help you.
Contact us today by calling 844-841-9857 or by filling out the Contact Form below.
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