| If you owe quite a bit of money in back taxes or if you | | | | circumstances, you may qualify for an IRS penalty |
| are not able to pay your tax debts in full, you would | | | | abatement hearing. Your tax specialist will inform you |
| probably do well to retain the advice and skill of a tax | | | | of information concerning this process and will get the |
| specialist. The IRS issues millions of fines and | | | | ball rolling for you. |
| assesses tax penalties against individuals or | | | | When you find yourself in the position of receiving an |
| businesses every year. Revenues associated with | | | | IRS notice telling you that you owe them money, you |
| these IRS tax penalties results in billions of dollars | | | | will have to possibly pay more money in interest and |
| every tax season. As a result of this situation, many | | | | fines. Your tax specialist then has the option of filing |
| taxpayers feel confusion and frustration. They may | | | | the paperwork to get you an IRS penalty abatement |
| not be aware of the options available to them and feel | | | | hearing. The tax codes ensure that you have the right |
| they are back into an imaginary corner. If you find | | | | to request this hearing. It is then that your case is |
| yourself in this position your tax professional can file a | | | | presented impartially to the IRS and then the IRS will |
| form requesting IRS penalty abatement. | | | | decide whether or not to grant you a reprieve. Your |
| Startling facts about IRS statistics | | | | tax specialist can be an asset and a skill negotiator on |
| The Taxpayer Advocates Annual Report to the US | | | | your behalf and handle the IRS issues for you. |
| Congress cites that IRS tax penalties are causing | | | | IRS penalty abatement hearings. |
| serious problems for US taxpayers. An IRS survey of | | | | There are one hundred and forty provisions in the US |
| tax specialists across the US indicated that this is the | | | | tax codes and each one allots for something called a |
| fifth gravest problem regarding tax issues. But, a | | | | good faith exception. What this means is that if you |
| qualified tax specialist has simple and highly effective | | | | have acted in "good faith", and have reasonably tried |
| methods for dealing with these problems and can | | | | to make amends to the IRS, then the penalty does not |
| request an IRS penalty abatement hearing for you. | | | | apply. You should never attempt to cheat or deceive |
| However, the IRS is oftentimes not very forthcoming | | | | the IRS, they will definitely find out about it and it will |
| about this information, so if you don't have a tax | | | | catch up with you. Then you may have no chance to |
| specialist on your side, you may not even know about | | | | change the situation or to request an IRS penalty |
| these things. | | | | abatement hearing. When consulting with a tax |
| Time is money and it adds up quickly | | | | specialist, it is important that you give them all the |
| When faced with the serious reality of tax fines, you | | | | information and to be as honest as possible. This is |
| are also well advised to consider that these fees may | | | | going to have a direct effect on their ability to do their |
| often double or triple in a short amount of time. Most | | | | job. If they are to make a case for penalty abatement |
| people are mistakenly led by the IRS; they are made | | | | on your behalf, then you have to give them all the |
| to believe that these penalties and interest charges | | | | information requested. Doing so in a timely and efficient |
| are permanent. This is not universally true for | | | | manner will allow chances for a favorable outcome |
| everyone who has outstanding IRS penalties. If you | | | | when appearing and negotiating your case. |
| have extreme financial hardship or experience dire | | | | |