The IRS imposes penalties for many types of tax compliance failures. Penalties can be a significant extra cost to individual and business taxpayers alike. But often penalties can be reduced or eliminated through administrative relief. An experienced IRS penalty abatement lawyer can help develop and pursue the right tax penalty abatement strategy.
Common Tax Penalties
Typical tax penalties that can be assessed and potentially abated include:
- Failure-to-file
- Failure-to-pay
- Accuracy-related penalties
- International reporting penalties
- Failure to deposit payroll taxes
IRS Tax Penalty Abatement Process & Strategy
- Consider engaging experienced IRS tax penalty abatement counsel as soon as possible.
- Consider Streamlined Filing Compliance or Voluntary Disclosure (if eligible).
- Don’t ignore IRS correspondence, be proactive, meet deadlines or obtain extensions.
- Carefully evaluate relevant facts and circumstances and develop a penalty abatement strategy.
- Prepare supporting documentation and respond to IRS requests.
- Prepare and file a Reasonable Cause / Penalty Abatement Request.
- Prepare for potential reconsideration or protest and Appeals review.
Contact an experienced IRS tax penalty abatement attorney
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