When the IRS assesses tax debt penalties, those penalties are added automatically to the taxpayer's account by the IRS computer system. Because of this, penalties are frequently added to a taxpayer's debt without taking his or her individual circumstances into account. And as you may have already discovered, IRS Tax Penalties can turn a fairly manageable debt into an overwhelming burden pretty much overnight.
A proper Penalty Abatement requires very specific wording and a solid understanding of the relevant IRS Code and Procedure. Even if you had a good reason for not paying your taxes on time, it is often extremely difficult to get these penalties removed without professional help.
In 2012, the IRS issued over $26,864,993,000.00 (that's 26.9 Billion Dollars) in penalties!
- Requesting a Penalty Abatement requires that you have a good reason. What qualifies as a good reason?
- It depends on the circumstances involved with your particular situation.
- The procedures for deciding who qualifies for a Penalty Abatement and for what reason seem to differ in each case.
- The best thing you can do is to request that the IRS abate your penalties by providing the circumstances surrounding your situation.
No comments:
Post a Comment