How to Get IRS Penalty and Interest Abatement From Tax Relief Professional
Whether you’re a business owner or an individual, there is always a risk of incurring penalties and interest from the IRS. But there are ways to reduce or even eliminate these payments. In this article, find out about the author you can get IRS penalty and interest abatement with the help of a tax relief professional.
If you owe the IRS money, you may be able to get some relief from penalties and interest charges. A tax relief professional can help you negotiate with the IRS and get an abatement of some of the fees associated with your debt.
The first step is to contact a tax relief professional. They will review your case and determine if you qualify for penalty and interest abatement. If you do, they will work with the IRS on your behalf to get the charges reduced or eliminated.
What is an IRS Penalty and Interest Abatement?
An IRS penalty and interest abatement is a process by which a taxpayer can have their penalties and interest charges removed from their account. This can be done for a variety of reasons, including if the taxpayer has made a mistake on their tax return, or if they have been unable to pay their taxes on time.
If you are facing penalties and interest charges from the IRS, you may be able to get relief through an IRS penalty and interest abatement. Tax relief professionals can help you determine if you qualify for this type of relief, and can assist you in the process of getting your penalties and interest removed.
Reasons for Abatement Eligibility
The IRS imposes penalties and interest on taxpayers for a number of reasons. The most common reason is failure to pay taxes when they are due. Other reasons include filing late, under-reporting income, and failing to supply required information.
Penalties and interest can be abated, or forgiven, in certain circumstances. The most common reason for abatement is genuine inability to pay. Other grounds for abatement include natural disasters, death or serious illness, errors by the IRS, and reliance on incorrect advice from the IRS.
If you think you may be eligible for penalty and interest abatement, contact a tax relief professional. They will help you determine if you qualify and what steps to take next.