Get help finding the Right Tax Lawyer for your case
If a taxpayer fails to file his or her taxes on time, or is late in making payments, he or she may face additional fees and penalties from the IRS. However, certain taxpayers may be granted a tax penalty abatement to save them from such penalties, fees, legal trouble and additional debt. Abatement is a lessening, ending or reduction of something. Thus, a tax penalty abatement provides relief from late fees and penalties that may have been added to your IRS debt for noncompliance. You can apply for tax penalty abatement and if granted, the IRS may remove or reduce your late fees and penalties.
Tax penalties increase the amount owed to the IRS. A Tax Penalty Abatement, can reduce the long run amount of taxes owed, allow the tax payer to pay off any amount outstanding faster, and use funds for other needs.
Taxpayers, both individual and businesses, must meet certain qualifications in order to request a tax penalty abatement. The possible categories of these qualifications are:
If you have penalties or late fees on your IRS tax bill and think you may qualify for a tax penalty abatement, you should seek the counsel of an experienced tax attorney. Tax attorneys can help you file a request for abatement properly. They will be able to help you determine which category you fall into and what you will need to prepare for your request. There are many variables to consider when preparing your case to the IRS for a tax penalty abatement, and it is easy to be denied. Therefore, it is best to use an experienced attorney to help you achieve relief from tax penalties or fees.
If you would like to request a tax penalty abatement and need the assistance of a tax lawyer, contact Attorney Search Network today for your lawyer referral. We can refer you to a knowledgeable tax law attorney near you who can help.
If you have any questions about the information provided above, please contact us. Call Attorney Search Network toll free at (800) 215-1190 or fill out our online form for your Tax lawyer referral.