Penalty Abatement

Penalty Abatement-EastCoast-sDid you know that you can ask the IRS to abate a tax penalty? Penalty abatement or relief is the process of partially or totally eliminating IRS penalties and can be very helpful in reducing your overall tax debt.  When a penalty is abated, any interest that accrued on the penalty is also removed. We are familiar with the criteria and procedures used by the IRS in abating tax penalties and will present your case in the most favorable light to seek relief from those penalties.

Reasonable Cause

For most penalties the IRS uses a “reasonable cause” standard to determine whether to grant penalty abatement.  Reasonable cause is based on all the facts and circumstances in each situation and is generally found to exist when the taxpayer exercises ordinary business care and prudence in determining their tax filing and payment obligations but nevertheless was unable to do so.

Any reason which establishes that the taxpayer exercised ordinary business care and prudence will be considered. Examples of factors that may establish reasonable cause include:

  • Death or serious illness in the family
  • Fire, casualty, natural disaster, or other disturbance
  • Theft or destruction of records
  • Mistake was made
  • Erroneous reliance or advice from IRS or a tax professional

Remove IRS Penalties

Our CPAs will review your facts and circumstances and determine the strength of your case before starting the penalty abatement process. We will help you gather the necessary information and documentation that supports your penalty abatement request and negotiate with the IRS to reduce or eliminate your penalties.

Call us today for help with Penalty Abatement!

With over 30 years of experience, our tax professionals are here to help you obtain relief from your tax problems. Let our team of CPAs help settle your tax debt for the lowest amount permitted and solve IRS problems such as bank levy, IRS audits, wage garnishments, unfiled tax returns, IRS liens and payroll tax penalties. Proudly serving Boca Raton, Florida and elsewhere throughout the U.S. Call for your Free Consultation today!