Penalty Abatement Help to Remove Interest Charges
As you already know, the IRS charges you interest when your business or personal taxes aren't paid on time. Interest is computed from the due date of your return (regardless of extensions) until paid in full or to the date of this notice. You may not know that the IRS also offers programs to remove these penalties and interest dollars that have been adding up.
Removal of Penalties - Reasonable Cause
The law allows the IRS to remove or reduce the penalties explained in a notice if you have an acceptable reason. If you believe you have an acceptable reason, Effectur can help you prepare a signed statement explaining your reason. Our Ex-IRS Agents will review and prepare the abatement request and let you know if the IRS accepts your explanation as reasonable cause to remove or reduce your penalty. This procedure doesn't apply to interest and, in some cases, you may be asked to pay the tax in full before the IRS will reduce or remove the penalty for paying late.
Erroneous Written Advice from IRS
We can also request that the IRS remove your penalty if:
- You wrote to IRS and asked for advice on a specific issue,
- You gave IRS complete and accurate information,
- IRS wrote back to you and gave you a specific course of action to take or explained what actions not to take,
- You followed IRS written advice in the manner outlined, and
- You were penalized for the written advice IRS gave you.
Effectur’s staff of experienced tax consultants know how to negotiate penalty abatement with the government. Many of our small business clients have saved thousands of dollars off their tax bills and are now back on the road to financial freedom.
When you contact us for a free consultation, an Effectur representative will evaluate your situation and let you know if this option is available to you.
We’ll work with you at every step of the process to reduce your monthly burden and emotional stress.