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Specializing in...

  • Stop or Prevent IRS Levy
  • Remove or Release IRS Levy
  • IRS Offer in Compromise
  • IRS Installment Agreement
  • Innocent Spouse Relief
  • IRS Financial Hardship
  • IRS Currently Not Collectable
  • Unpaid Personal Taxes
  • Unpaid Business Taxes
  • IRS CP 504 Intent to Levy
  • IRS CP 90 Final Levy Notice
  • Garnish, Lien, or Levy Relief

Tax Penalties

If you are unable to pay your IRS taxes or fail to pay taxes on time or in full, you are likely to face a variety of IRS penalties and collection notices or actions. When it comes to delinquent taxes, often taxpayers are able to meet the original amounts owed, but it's the penalties and interest that end up being so punitive and crippling -- and they can add up very quickly.

If you owe back taxes to the IRS, get the help you need today to arrive at the best possible solution with the IRS.

Get a free tax relief consultation from a BBB-A-Rated tax relief specialist at no obligation.

Penalty Abatement - Interest Abatement

Being pursued for payment by the IRS is a stressful experience. But you don't have to go it alone. There is help and you do have legal tax relief rights and options that may apply to your situation. If you're getting notices of failure to deposit, you're likely in store for a barrage of tax penalties and interest, and these fees can quickly double the amount of tax debt owed. That's why it is so important not to ignore the IRS and take a proactive approach to resolving your back taxes.

With the assistance of experienced tax relief specialists and attorneys who know how to apply rather complex tax relief code to assist you, you may be able to get tax penalty or interest abatement. This could not only help you breathe easier, but possibly save thousands of dollars as well.

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Tax Penalties - Know Your Rights

Many taxpayers would agree that facing an IRS tax penalty amounts to one of life's most distressing events. It underscores the importance of filing and paying taxes on time. For many people, especially during difficult economic times, if often becomes next to impossible to pay the IRS on time.

What are the specific tax issues which cause the IRS to impose penalties? Penalties can be assessed when one or more of the following occur:

  • Failure to file a tax return
  • Late payment of taxes
  • Failure to report taxes accurately - understate the amount owed.
  • Refund or credit claim which is inaccurate
  • Filing of frivolous tax submission
  • Information filed fraudulently (Civil Fraud Penalty)

Serious IRS penalties can arise from a variety of taxable areas including: self-employment income, payroll or withholding, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards.

The usual IRS expectation is that once tax penalties have been assessed, it's incumbent upon the taxpayer to remit timely payment of that penalty.

File Your Tax Return

Let's clear-up a common misconception. Some taxpayers are under the false belief that if they forget to file their tax return by the due date, that all is forgiven with the IRS if and when they do file.

This is a misunderstanding that can be very costly to taxpayers.

The fact remains that for those who "forget to file", penalties up-to 25% of the taxes owed can be assessed for not filing a tax return as prescribed by law.

On top of that, another 5% surcharge can be added to that. Tax penalties are calculated on a monthly basis, a factor potentially leading to the 25% penalty of to-be-filed tax bill. Persons able to demonstrate a "reasonable cause" as to why their taxes were not filed, may be able to halt or abate the IRS penalty.

So, it begs the question. How is "reasonable cause" shown? Tax laws, forms, and code that regulates penalties can be very complex. That's why it makes sense to strongly consider getting a tax relief experts on your side to work on your behalf.

A BBB-A-Rated tax relief professional or attorney can not only help to remove stress but possibly save thousands of dollars as well!

Owe the IRS? Know you.

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File on Time

For those who file on time but still fall short of paying what they owe, are also subject to penalties of up to 25% of the tax amount owed. The longer the tax bill remains unpaid, the more the IRS may charge in interest owed.

Taxpayers Must Disclose Information

Filing a tax return requires accuracy and full disclosure. A taxpayer believing he or she may lack the knowledge or ability to meet that requirement should consider the help of a skilled tax specialist. Ignorance is not a valid excuse under the law. Anyone falling into that category may subject themselves to what the IRS calls a "frivolous return" with severe penalties to match, up to $500.

File an Accurate Return

Similar to a frivolous return, inaccurate or incorrect filing of an IRS tax return can also result in penalty. Claiming ignorance resulting in a negligent regard of the tax rules and regulations, or underestimating the amount of tax-owed, can result in penalties of up to 20% of the taxes owed.

Exactly what does the IRS consider negligence? Per the IRS, it's defined as "any reasonable lack to comply with provisions of the Internal Revenue Code", including but not limited of failure to:

  • reasonably abide by existing IRS law
  • use of reasonable and ordinary attention in preparing tax returns
  • maintenance of sufficient records, account books, or verification of items

Get your free tax relief consultation today from a BBB-A-Rated tax relief specialist.

Civil Fraud Penalty

The concept of fraud does not sit well with the IRS. It is the one area which leads to the most severe IRS collection actions and enforcement measures. If the IRS determines that a person has fraudulently underpaid their taxes, a penalty of 75% may be attached to that individual's tax bill.

Upon a full review, if the IRS determines that a convincing evidence of fraud exists, the case may be referred to the Internal Revenue Service Criminal Investigation Division, for possible criminal investigation. This is a serious situation and can bring both civil and criminal charges and penalties.

It's important to note, however, that negligence or ignorance is not considered fraud under the law. A strong understanding of the law and its intent can prove beneficial to taxpayers seeking relief from civil penalties.

If you have owe back taxes to the IRS or have a serious matter pending with the IRS, it is important to take immediate steps to protect your legal rights and get tax relief you are entitled to under law.

If you believe you could benefit by getting the expertise and advice of a tax relief specialist, take a moment to answer a few basic questions regarding your specific tax situation and we'll connect you to a BBB-A-Rated tax relief professional who is ready to assist you.

Get your free tax relief consultation today from a BBB-A-Rated tax relief specialist.

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