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IRS Penalty Abatement

When you file late or if you intentionally file a falsified tax return, the IRS is going to hit you with substantial interests and penalties.  Taxpayers that owe back taxes are still afforded the opportunity to request the penalties to be abated. Abate means to completely or partially remove.  There are many types of penalties, and therefore different tactics in dealing with them.

The IRS can assess 148 different types of penalties.  Before attempting to remove any of these penalties, first the taxpayer must show good faith to the IRS.  This is done by entering a resolution of either a pay in full within 120 days or by entering a payment plan and after about four months of payments, a request to remove the penalties.  One way to remove the penalties is to qualify for the “one-time penalty abatement” in which the IRS will remove the penalties for one year due to it being a simple one time case situation.  Another abatement method is to prove to the IRS that there is reasonable cause to have the penalties abated.

Reasonable cause depends upon the particular circumstances involved with your situation. The IRS procedures for deciding who qualifies for penalty abatement and for what reason differ in each case. There are guidelines for possible reasonable cause, such as death of a family member, illness, severe storms, etc.  What is needed is a direct correlation to the events that caused the hardship and the dates of when the taxes were owed or needed to be filed.

If you need assistance or information about tax penalty abatement or how the process works, contact us at Platinum Tax Defenders to explain the situation and detail whether or not our professionals believe that your circumstance may warrant reasonable cause penalty abatement.

One thing to know about the IRS is that the first penalty abatement request is often denied prior to actually being reviewed.  Therefore, if there is a denial, a penalty abatement appeal is often necessary in which reasonable cause is verified and reviewed by an assigned person.   It is during this procedure that most penalties are waived.

Don’t be fooled by companies claiming that they can remove the interest from your back taxes, this is not an option at the IRS.  However, penalties and interest on penalties can be attacked.  At Platinum Tax Defenders, we have the experience to know when and how to request this relief, contact us to discuss your tax relief.

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