Accidents happen. You might forget to file on time because you’re dealing with a life-changing event or some kind of disaster. Maybe you started a business but didn’t have a professional to pay the build taxes on time, or you didn’t have the money to pay the income taxes and didn’t get an extension.
These are all causes for a tax penalty. When you get that penalty bill, it can be up to 25% of what’s owed. That’s huge! What are you going to do?
Don’t panic. The IRS has a one-time penalty abatement program. They won’t offer this to you. You have to apply for it. You get one penalty abatement every few years. If you have a lot of tax problems, make sure you get the most expensive one abated and leave the others intact.
These are all causes for a tax penalty. When you get that penalty bill, it can be up to 25% of what’s owed. That’s huge! What are you going to do?
Don’t panic. The IRS has a one-time penalty abatement program. They won’t offer this to you. You have to apply for it. You get one penalty abatement every few years. If you have a lot of tax problems, make sure you get the most expensive one abated and leave the others intact.
“
”
The IRS has a penalty abatement program.
”
If you have a penalty you want to see if you can get removed, call the IRS and explain your situation. Sometimes begging for forgiveness works. Just be prepared to be on hold for up to an hour when you call them. They are woefully understaffed.
If you cannot get the penalty removed, give us a call or send us an email and we’ll see what we can do. Please don’t hesitate to give us a call with any questions or concerns. We would be happy to help you!
If you cannot get the penalty removed, give us a call or send us an email and we’ll see what we can do. Please don’t hesitate to give us a call with any questions or concerns. We would be happy to help you!
