Penalty Abatement
In many cases, penalties and interest on a tax balance can be quite large. If you are facing penalties or interest for not filing or paying your taxes ontime, you may be able to have them removed through penalty abatement/adjustment.
Reasonable Cause Letter
If there is a “reasonable cause” for penalty abatement/adjustment, the IRS may review the penalties on your tax balance. These reasonable causes may be:
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- Wrong address
- A death or illness in the family
- An error caused by an IRS employee
- Natural disaster like an earthquake, flood or other catastrophe
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Approximately one-third of tax penalties are removed by the IRS through proper and successful penalty abatement. To request the penalty be removed or refunded to you, you must fill out Form 843 “Claim for Refund and Request for Abatement”.
Penalty Abatement may be the best solution for resolving your tax balance. Call the Tax Defense Group so that we can help you determine if this is the best option for you.
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