Typically, acquiring a tax debt comes with additional interest and penalties. However, the IRS will waive some or all of the specific penalties under certain conditions. Some of the penalties eligible for being waived are, but are not limited to:
- Failure to File
- Failure to Pay
- Failing to Deposit
One of the benefits of applying for penalty relief in addition to the removal of the extra tax liability is that the IRS will reduce the interest owed in relation to the penalties waived. However, you must be able to prove reasonable cause to get your claim approved. If your request for a penalty abatement gets denied, there is also an appeals process that may be able to overturn the IRS’s decision. A licensed tax attorney is experienced in navigating the legal process to negotiate and argue your case to the IRS to have these expensive penalties waived.
At Justice Tax, LLC, we have helped millions of taxpayers get penalties removed from their overall tax liability. By calling 888-545-6007, you can speak to one of our experienced Senior Tax Consultants at no cost and no obligation to see how we can help you gain financial freedom.