The
Internal Revenue Code authorizes the abatement of penalties
imposed by the IRS for failure to file tax returns or for
failure to pay tax and other penalties, if the failure is
due to reasonable cause and not willful neglect.
Forgiveness
of penalties is decided on a case-by-case basis. Generally,
if the taxpayer exercised ordinary business care and prudence
and was, nevertheless, unable to file the return on time,
the delay is considered due to reasonable cause. Also, a failure
to pay may be due to reasonable cause if the taxpayer exercised
ordinary business care and prudence, yet could not pay the
tax liability.
If
the IRS determines that failure to pay or failure to file
was due to reasonable cause and not willful neglect, the penalty
will not be assessed. You would still be responsible, however,
for the underlying tax owed plus interest due.
Let
us seek abatement of your penalties due to reasonable cause
and get a reduction in the amount you owe.
With
our Tax Advisory Service, we can conduct a evaluation of your
current tax situation and make some recommendations. If we
find an area of concern, you can rest assured that by engaging
our services, our office will act as your advocate and seek
to resolve your IRS problems.
For
prompt evaluation of your case, we encourage you to click
here to register for our Tax Advisory Service. You
may also contact us using our toll-free number at 866.494.6829.
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