IRS Penalties – Penalty Abatement
IRS penalties and interest make owing back taxes much worse the longer unpaid. They make the total debt grow very rapidly, in some cases up to almost 50% more than the original tax owed. If you work with BestTaxPro to resolve your tax debt, the firm challenges each and every part of that debt: principal, interest and penalties. After assuring that the tax the IRS originally assessed is the lowest amount allowed by law, BestTaxPro goes to work to see if the penalties can be reduced or completely forgiven.
The added IRS penalty on back tax debt adds a significant additional burden to pay. BestTaxPro analyzes your life circumstances to determine whether you fit within any of the categories under which the IRS must, or has the discretion to, forgive your IRS penalties. The types of circumstances that can qualify are the occurrence of a natural disaster, a serious health problem for the taxpayer or the need to care for a family member, the death of a family member, bad financial advice from a professional on whom it would be reasonable to rely or lost or destroyed financial records. A “just because” argument will not work. BestTaxPro has the professional skill and experience to evaluate and describe any qualifying circumstances in a way that will fit the IRS justifications for penalty abatement so your IRS penalties can be eliminated or reduced.