Reduce IRS Penalties. Get a free consultation from an Experienced and Licensed Tax Debt Relief Professional
Can you reduce IRS penalties and what are IRS penalties anyways?
When you owe the IRS and do not pay your balance owed or file your return late with a balance owed, you are assessed penalties. Typical penalties are for failure to pay, late filing, and estimated tax penalties. Unfortunately, penalties and interest will continue to be charged on your outstanding balance as you pay the debt off.
You are required by law to pay the interest on your tax debt but the penalties can be reduced, removed, or, if your tax debt has been paid off within the last 2 years, penalties may be able to be refunded. Removing assessed penalties may also help with reducing the interest that will accrue over time. Experienced help may help you get more removed than on your own, so it is an important consideration.
The good news is that we may be able to reduce penalties or get them refunded based on reasonable circumstances such as a death or illness of you or a family member, mental health illness, financial hardship, and other applicable reasons or due to good compliance history. We have categorized the possible criteria into 17 different categories. It is extremely important to have experienced representation that knows the guidelines and rules the IRS follows when evaluating such a request. The IRS looks for specific details when evaluating the requests so it is important to know and make sure all the factors being considered are clear and applicable.
IF a request is submitted and not thorough or detailed enough it will likely be rejected. If it is rejected, the IRS will typically deny any further requests for that particular tax year. However, there are ways to have a request reconsidered depending on the circumstances.
Please complete the form below to find out if you qualify for penalty relief or other options to put your tax problems behind you.