IRS Tax Penalty Abatement Services

South Florida penalty abatement services

Penalties incurred from filing taxes late or incorrectly are not only frustrating but costly for many U.S. taxpayers. Often times, taxpayers feel the tax penalties issued by the IRS are unjust and unlawful in their case and they shouldn't be liable for these additional fees. Unfortunately, most taxpayers believe there's nothing they can do and are unaware that they may qualify for penalty abatement under the IRS guidelines.

What is Tax Penalty Abatement?

In certain situations, the IRS will agree to forgive tax penalties resulting from late filing a tax return, tax deposit or other tax payment, this is called penalty abatement. There are many different types of IRS tax penalties. To qualify for penalty abatement a taxpayer has to meet certain criteria and posess an acceptable reason for failing to pay their taxes or paying their taxes late. The taxpayer has to convince the IRS that their situation qualifies for penalty abatement in order to benefit from this provision. The reasons for penalty abatement according to current IRS guidelines include:  

  • Reliance on a tax professional
  • Ignorance of tax law
  • Medical illness (personal or a family member)
  • Natural disasters
  • Significant financial hardship
  • Death in the family

First-Time IRS Tax Penalty Abatement

First-time non-compliant taxpayers can request First-Time Penalty Abatement (FTA). This request applies to some kinds of penalties in a single tax period and could end up saving taxpayers considerable money.

Individuals can request an FTA for failure-to-file or failure-to-pay penaltiesand businesses can also request an FTA for failing to file payroll taxes. Of course, the IRS does not forgive these penalties easily and each case must be reviewed carefully.If the IRS concludes that the taxpayer has demonstrated payment compliance, they may accept the request and abate the late-filing penalties.

FTA applies only to certain types of tax penalties and certain tax returns filed. We can help determine if you should be qualify for First-Time Penalty Abatement and will not be liable for any penalties associated with your late filing.

How Do I File for Penalty Abatement?

Before filing for penalty abatement you'll need to be sure you qualify and are able to communicate a convincing argument to the IRS. For assistance, turn to Federal Tax Advocates, LLC. We understand what types of situations will qualify a taxpayer for penalty abatement and can help you file the necessary paperwork. To learn more or discuss your circumstances, contact us at 1-855-5FEDTAX (855-533-3829) today to learn more.or request a consultation through our website.