Penalty Abatement: Reduce IRS Penalties on Tax Debt
You may already know that a small delinquent tax debt can quickly compound into an unmanageable amount. The reason is because of IRS Penalties and Interest. Penalty Abatement (or Reduction) is one of the key tax debt services we provide and is also one of the key factors toward helping you to get your tax debt resolved in as short a period as possible.
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Penalty Abatement Problems? Get Help Now!
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To get IRS Penalties abated, you will have to show that you had a good reason for not paying your tax debt. Common reasons people request Penalty Abatement from IRS penalties include:
- Death of a family member
- Bad or erroneous tax debt advice from a professional
- Natural disasters (flood, hurricane, fire)
- Lost/destroyed records
- Unemployment for an extended period
There are many more situations that may hinder you from paying your tax debt on time. These are simply the most common used for Penalty Abatement.
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We Know Things are Rough: We Can Help You
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To apply for an abatement of IRS penalties on your tax debt, you will need Form 843. Your IRS Penalty Abatement application will be reviewed by a Revenue Officer, and it will be entirely up to their discretion to make the final decision regarding your IRS penalties and tax debt. For this reason, it is critically important to present a well-prepared and well-documented application package, including a cover letter that describes your specific situation regarding your tax debt and IRS penalties.Contact our tax debt professionals for assistance with your Penalty Abatement request from IRS penalties.
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"IRS Tax Settlement that was our way out, you know God always makes a way, and they were our way out." "If it wasn't for IRS Tax Settlement coming in we wouldn't have a Lynch, Kentucky." Benny Massey - City Council - Lynch Kentucky (see video testimonial)
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