Penalty Abatement is a reduction or elimination of penalties and interest accrued on your IRS back tax debt. With Penalty Abatement you may be able to reduce or eliminate all of the penalties and interest associated with your IRS back tax case. You are still responsible for the balance but with a reduction in the penalties and interest your IRS tax debt can be much more reasonable. So if you can afford to pay the tax debt but not the penalties and interest, Penalty Abatement may be the best solution to settle you back taxes.
Penalty Abatement is just one of the many ways My Tax Repair can help you get your IRS tax debt taken care of. The longer you wait to take care of your back taxes with the IRS the more interest and penalties will turn a small tax debt into an unreasonable one.
By choosing Penalty Abatement you are giving your case with IRS a human face and showing that you have a solid reason for not paying your tax debt, such as:
• The death of a family member or someone close to you.
• Unavoidable absence such as being in jail or in a rehabilitation facility.
• Destruction of your businesses records in fire, hurricane, flood etc.
• Ability to pay on your taxes has been delayed by a civil disturbance such as divorce.
• You were not able to collect records to establish the amount of taxes owed.
• You received incorrect advice from a tax professional.
• You received incorrect advice from the IRS no matter if it was over the phone, in writing or in person.
• You are on a fixed income or are retired.
These are just a few of the many reasons the IRS may be willing to reduce the penalties and interest on your tax debt.
The most common way to present your Penalty Abatement case to the IRS is with a written petition. Because your petition for Penalty Abatement will be reviewed by an officer in the IRS, it is very important that your case be clear and well prepared.
Call My Tax Repair now and talk to one of our specially trained tax repair specialists to get started on preparing your Penalty Abatement case. Let My Tax Repair get you back on the road to freedom from IRS tax debt.
